The trading price of Coinbase Global Inc. (NASDAQ:COIN) floating higher at last check on Tuesday, November 02, closing at $336.90, 1.79% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $323.90 and $338.43. The company’s P/E ratio in the trailing 12-month period was 41.49. In examining the 52-week price action we see that the stock hit a 52-week high of $429.54 and a 52-week low of $208.00. Over the past month, the stock has gained 43.19% in value.
Coinbase Global Inc., whose market valuation is $69.75 billion at the time of this writing, is expected to release its quarterly earnings report May 13, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $1.37 per share this quarter, however they have predicted annual earnings per share of $12.19 for 2021 and $5.61 for 2022. It means analysts are expecting annual earnings per share growth of -54.00% next year.
Analysts have forecast the company to bring in revenue of $1.45 billion for the current quarter, with the likely lows of $648 million and highs of $2.14 billion. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2021 is $6.82 billion.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Coinbase Global Inc. No upward and no downward comments were posted in the last 7 days.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned COIN a recommendation rating is 26. Out of them, 5 rate it a Hold, while 17 recommend Buy, whereas 2 assign an Overweight rating. 1 analyst(s) have tagged Coinbase Global Inc. (COIN) as Underweight, while 1 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0.63, which symbolizes a positive outlook. A quick review shows that COIN’s price is currently 17.71% off the SMA20 and 28.09% off the SMA50. The RSI metric on the 14-day chart is currently showing 73.06, and weekly volatility stands at 4.35%. When measured over the past 30 days, the indicator reaches 4.77%. Coinbase Global Inc. (NASDAQ:COIN)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 13.59. With analysts defining $250.00-$600.00 as the low and high price targets, we arrive at a consensus price target of $376.85 for the trailing 12-month period. The current price is about 25.79% off the estimated low and -78.09% off the forecast high, based on this estimate. Investors will be thrilled if COIN’s share price rises to $364.00, which is the median consensus price. At that level, COIN’s share price would be -8.04% below current price.
To see how Coinbase Global Inc. stock has been performing today in comparison to its peers in the industry, here are the numbers: COIN stock’s performance was 1.79% in the latest trading. Coinbase Global Inc. has a P/E ratio of 41.49. Also during today’s trading, the S&P 500 Index has surged 0.32%, while the Dow Jones Industrial also saw a positive session, up 0.24% today.
An evaluation of the daily trading volume of Coinbase Global Inc. (NASDAQ:COIN) indicates that the 3-month average is 4.77 million. However, this figure has increased over the past 10 days to an average of 6.22 million.
Currently, records show that 204.73 million of the company’s shares remain outstanding. The insiders hold 0.30% of outstanding shares, whereas institutions hold 31.00%. The stats also highlight that short interest as of Jul 29, 2021, stood at 4.62 million shares, resulting in a short ratio of 1.32 at that time. From this, we can conclude that short interest is 2.22% of the company’s total outstanding shares. It is noteworthy that short shares in July were down slightly from the previous month’s figure, which was 4.78 million. However, since the stock’s price has seen 0.83% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.