In the last trading session, 13.49 million Coinbase Global Inc (NASDAQ:COIN) shares changed hands as the company’s beta touched 3.36. With the company’s per share price at $220.21 changed hands at $16.01 or 7.84% during last session, the market valuation stood at $54.72B. COIN’s last price was a discount, traded about -28.73% off its 52-week high of $283.48. The share price had its 52-week low at $70.42, which suggests the last value was 68.02% up since then. When we look at Coinbase Global Inc’s average trading volume, we note the 10-day average is 10.62 million shares, with the 3-month average coming to 8.10 million.
Analysts gave the Coinbase Global Inc (COIN) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.32. If we narrow down to specifics, the data shows that 3 out of 37 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 11 recommended COIN as a Hold, 23 felt it is a Buy and 0 rated the stock as Underweight. Coinbase Global Inc’s EPS for the current quarter is expected to be 0.42.
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Coinbase Global Inc (NASDAQ:COIN) trade information
Instantly COIN was in green as seen at the end of in last trading. With action 24.85%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 26.62%, with the 5-day performance at 24.85% in the green. However, in the 30-day time frame, Coinbase Global Inc (NASDAQ:COIN) is 30.89% up. Looking at the short shares, we see there were 11.07 million shares sold at short interest cover period of 1.46 days.
The consensus price target for the stock as assigned by Wall Street analysts is 277.5, meaning bulls need an upside of 20.65% from its current market value. According to analyst projections, COIN’s forecast low is 11 with 875 as the target high. To hit the forecast high, the stock’s price needs a -297.35% plunge from its current level, while the stock would need to tank 95.0% for it to hit the projected low.
Coinbase Global Inc (COIN) estimates and forecasts
Data shows that the Coinbase Global Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 4.36% over the past 6 months, a 1,300.00% in annual growth rate that is considerably higher than the industry average of 16.80%. Year-over-year growth is forecast to reach 82.70% up from the last financial year.
Consensus estimates given by 16 financial analysts project the company’s revenue in the current quarter to hit an average of 1.25B. 16 analysts are of the opinion that Coinbase Global Inc’s revenue for the current quarter will be 1.36B. The company’s revenue for the corresponding quarters a year ago was 674.15M and 953.79M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 86.00%. The estimates for the next quarter sales put growth at 42.50%.
The 2024 estimates are for Coinbase Global Inc earnings to increase by 1425.05%.
COIN Dividends
Coinbase Global Inc is expected to release its next quarterly earnings report on 2024-Oct-30.
Coinbase Global Inc (NASDAQ:COIN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.41% of Coinbase Global Inc shares while 55.78% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 57.16%. There are 55.78% institutions holding the Coinbase Global Inc stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 7.2725% of the shares, roughly 17.66 million COIN shares worth $3.92 billion.
FMR LLC holds the second largest percentage of outstanding shares, with 4.5442% or 11.03 million shares worth $2.45 billion as of 2024-06-30.
Among Mutual Funds, the top two as of Jun 30, 2024 were Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund . With 6.0 shares estimated at $1.32 billion under it, the former controlled 2.95% of total outstanding shares. On the other hand, Vanguard Mid-Cap Index Fund held about 1.81% of the shares, roughly 3.67 shares worth around $807.08 million.
