Coinbase Global Inc. (NASDAQ:COIN) shares, rose in value on Friday, November 5, with the stock price down by -0.89% to the previous day’s close as strong demand from buyers drove the stock to $341.39.
Actively observing the price movement in the recent trading, the stock is buoying the session at $344.45, falling within a range of $333.88 and $345.85. The PE ratio was 43.18 over 12-month period. Referring to stock’s 52-week performance, its high was $429.54, and the low was $208.00. On the whole, COIN has fluctuated by 37.57% over the past month.
With the market capitalization of Coinbase Global Inc. currently standing at about $72.59 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 13, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.37, which is expected to increase to $2.61 for fiscal year $12.19 and then to about $5.61 by fiscal year 2022.
Analysts have estimated the company’s revenue for the quarter at $1.45 billion, with a low estimate of $648 million and a high estimate of $2.14 billion.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days.
26 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 5 analyst(s), 17 recommend it as a Buy and 2 called the COIN stock Overweight. In the meantime, 1 analyst(s) believe the stock as Underweight and 1 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Overweight.
The stock’s technical analysis shows that the PEG ratio is about 0.65, with the price of COIN currently trading nearly 13.66% and 27.35% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 72.58, while the 7-day volatility ratio is showing 4.04% which for the 30-day chart, stands at 4.80%. Furthermore, Coinbase Global Inc. (COIN)’s average true range (ATR) is 13.77. The company’s stock has been forecasted to trade at an average price of $376.85 over the course of the next 52 weeks, with a low of $250.00 and a high of $600.00. Based on these price targets, the low is 26.77% off current price, whereas the price has to move -75.75% to reach the yearly target high. Additionally, analysts’ median price of $364.00 is likely to be welcomed by investors because it represents a decrease of -6.62% from the current levels.
Data on historical trading for Coinbase Global Inc. (NASDAQ:COIN) indicates that the trading volume over the past 3 months, they’ve averaged 4.89 million. According to company’s latest data on outstanding shares, there are 204.73 million shares outstanding.
Nearly 0.30% of Coinbase Global Inc.’s shares belong to company insiders and institutional investors own 31.00% of the company’s shares. The stock has risen by 4.93% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the COIN stock heading into the next quarter.