In the latest trading session, 2.02 million shares of the Coinbase Global Inc (NASDAQ:COIN) were traded, and its beta was 3.37. Most recently the company’s share price was $160.77, and it changed around -$2.28 or -1.40% from the last close, which brings the market valuation of the company to $39.95B. COIN currently trades at a discount to its 52-week high of $283.48, offering almost -76.33% off that amount. The share price’s 52-week low was $69.63, which indicates that the current value has risen by an impressive 56.69% since then. We note from Coinbase Global Inc’s average daily trading volume that its 10-day average is 7.57 million shares, with the 3-month average coming to 7.67 million.
Coinbase Global Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.32. If we narrow it down even further, the data shows that 2 out of 29 analysts rate the stock as a Sell; another 6 rate it as Overweight. Among the rest, 14 recommended COIN as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. Coinbase Global Inc is expected to report earnings per share of 0.51 for the current quarter.
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Coinbase Global Inc (NASDAQ:COIN) trade information
Instantly COIN has showed a red trend with a performance of -1.40% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 168.93 on recent trading dayincreased the stock’s daily price by 4.83%. The company’s shares are currently down -7.56% year-to-date, but still up 3.69% over the last five days. On the other hand, Coinbase Global Inc (NASDAQ:COIN) is -18.44% down in the 30-day period. We can see from the shorts that 8.89 million shares have been sold at a short interest cover period of 1.24 day(s).
The consensus price target as assigned by Wall Street analysts is $275, which translates to bulls needing to increase their stock price by 41.54% from its current value. Analyst projections state that COIN is forecast to be at a low of $11 and a high of $875.
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 fallen -33.67 percent over the past six months and at a 1,305.41% annual growth rate that is well above the industry average of 18.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 5,200.00% in revenue this quarter, and will report a decrease of -24.00% in the next quarter. The year-over-year growth rate is expected to be 85.00%, up from the previous year.
Consensus estimates provided by 15 financial analysts predict the company will bring in an average of 1.28B in revenue for the current quarter. 15 analysts expect Coinbase Global Inc to make 1.4B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 674.15M and 953.79M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 89.20%. Forecasts for the next quarter put sales growth at 47.30%.
COIN Dividends
Coinbase Global Inc’s next quarterly earnings report is expected to be released on 2024-Oct-31.
Coinbase Global Inc (NASDAQ:COIN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.41% of Coinbase Global Inc shares, and 55.66% of them are in the hands of institutional investors. The stock currently has a share float of 57.04%. Coinbase Global Inc stock is held by 1237.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 7.2725% of the shares, which is about 17.66 million shares worth $3.92 billion.
FMR LLC, with 4.5442% or 11.03 million shares worth $2.45 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund were the top two Mutual Funds as of Jun 30, 2024. The former held 6.0 shares worth $956.64 million, making up 2.95% of all outstanding shares. On the other hand, Vanguard Mid-Cap Index Fund held roughly 3.67 shares worth around $584.65 million, which represents about 1.81% of the total shares outstanding.
