Coinbase Global Inc. (NASDAQ: COIN) stock fell -1.56% on Friday to $82.15 against a previous-day closing price of $83.45. With 6.24 million shares changed hands, the volume of the stock remained lighter than its average volume of 13.26 million shares. During the session, the Financial Data & Stock Exchanges company that operates in wider Financial sector, reached to the highest price of $83.32 whereas the lowest price it dropped to was $79.95. The 52-week range on COIN shows that it touched its highest point at $114.43 and its lowest point at $31.55 during that stretch. It currently has a 1-year price target of $91.57. Beta for the stock currently stands at 2.76.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of COIN was up-trending over the past week, with a rise of 0.07%, but this was up by 3.99% over a month. Three-month performance surged to 51.43% while six-month performance rose 21.20%. The stock gained 4.38% in the past year, while it has gained 132.13% so far this year. A look at the trailing 12-month EPS for COIN yields -5.64 with Next year EPS estimates of -1.16. For the next quarter, that number is -0.52. This implies an EPS growth rate of -181.40% for this year and -100.00% for next year.
Float and Shares Shorts:
At present, 234.61 million COIN shares are outstanding with a float of 182.14 million shares on hand for trading. On Aug 30, 2023, short shares totaled 23.07 million, which was 9.73% higher than short shares on Jul 30, 2023. In addition to Mr. Brian Armstrong as the firm’s Co-Founder, Chairman & CEO, Ms. Emilie M. Choi serves as its Pres & COO.
Institutional Ownership:
Through their ownership of 59.26% of COIN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 6.34% of COIN, in contrast to 28.30% held by mutual funds. Shares owned by individuals account for 24.73%. As the largest shareholder in COIN with 7.09% of the stake, The Vanguard Group, Inc. holds 13,474,119 shares worth 13,474,119. A second-largest stockholder of COIN, ARK Investment Management LLC, holds 12,121,881 shares, controlling over 6.38% of the firm’s shares. Nikko Asset Management Co., Ltd. is the third largest shareholder in COIN, holding 9,166,044 shares or 4.83% stake. With a 3.85% stake in COIN, the ARK Innovation ETF is the largest stakeholder. A total of 7,308,114 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.46% of COIN stock, is the second-largest Mutual Fund holder. It holds 4,673,315 shares valued at 372.0 million. Vanguard Mid Cap Index Fund holds 1.61% of the stake in COIN, owning 3,064,439 shares worth 243.93 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, COIN reported revenue of $808.33M and operating income of -$1.00B. The EBITDA in the recently reported quarter was -$1.13B and diluted EPS was -$4.98.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for COIN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With COIN analysts setting a high price target of $200.00 and a low target of $27.00, the average target price over the next 12 months is $89.77. Based on these targets, COIN could surge 143.46% to reach the target high and fall by -67.13% to reach the target low. Reaching the average price target will result in a growth of 9.28% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded COIN stock several times over the past three months with 19 Buys and 21 Sells. In these transactions, 145,433 shares were bought while 135,365 shares were sold. The number of buy transactions has increased to 102 while that of sell transactions has risen to 98 over the past year. The total number of shares bought during that period was 1,070,489 while 771,869 shares were sold.
