Coinbase Global Inc (NASDAQ: COIN): Stock Performance & Trend Analysis

In the last trading session, 8.79 million shares of the Coinbase Global Inc (NASDAQ:COIN) were traded, and its beta was 3.42. Most recently the company’s share price was $245.84, and it changed around -$6.27 or -2.49% from the last close, which brings the market valuation of the company to $59.56B. COIN currently trades at a discount to its 52-week high of $283.48, offering almost -15.31% off that amount. The share price’s 52-week low was $46.43, which indicates that the current value has risen by an impressive 81.11% since then. We note from Coinbase Global Inc’s average daily trading volume that its 10-day average is 11.81 million shares, with the 3-month average coming to 14.94 million.

Coinbase Global Inc (NASDAQ:COIN) trade information

Instantly COIN has showed a red trend with a performance of -2.49% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 41.35% year-to-date, but still down -12.11% over the last five days. On the other hand, Coinbase Global Inc (NASDAQ:COIN) is 19.47% up in the 30-day period. We can see from the shorts that 11.31 million shares have been sold at a short interest cover period of 0.62 day(s).

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The consensus price target as assigned by Wall Street analysts is $196.85, which translates to bulls needing to decrease their stock price by -24.89% from its current value. Analyst projections state that COIN is forecast to be at a low of $11 and a high of $600.

Coinbase Global Inc (COIN) estimates and forecasts

Coinbase Global Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 227.44 percent over the past six months and at a 354.05% annual growth rate that is well above the industry average of 5.00%. The year-over-year growth rate is expected to be -32.00%, down from the previous year.

1 analysts expect Coinbase Global Inc to make $140k in revenue for the quarter ending Mar 2024.

COIN Dividends

Coinbase Global Inc’s next quarterly earnings report is expected to be released around May 02 and May 06.

Coinbase Global Inc (NASDAQ:COIN)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 5.00% of Coinbase Global Inc shares, and 54.37% of them are in the hands of institutional investors. The stock currently has a share float of 57.23%. Coinbase Global Inc stock is held by 1,086 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 7.21% of the shares, which is about 13.7 million shares worth $980.0 million.

ARK Investment Management, LLC, with 5.58% or 10.6 million shares worth $796.12 million as of Sep 29, 2023, holds the second largest percentage of outstanding shares.

ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 7.08 million shares worth $531.82 million, making up 3.73% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 4.68 million shares worth around $334.96 million, which represents about 2.46% of the total shares outstanding.