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Coinbase Global Inc. (COIN) Analysis & Forecast for 2023

Coinbase Global Inc. (NASDAQ: COIN) is 58.12% higher on its value in year-to-date trading and has touched a low of $31.55 and a high of $217.49 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The COIN stock was last observed hovering at around $55.16 in the last trading session, with the day’s gains setting it 0.8% off its average median price target of $55.00 for the next 12 months. It is also 72.02% off the consensus price target high of $200.00 offered by 30 analysts, but current levels are -143.3% lower than the price target low of $23.00 for the same period.

Currently trading at $55.96, the stock is 38.10% and 30.45% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 17.67 million and changing 1.45% at the moment leaves the stock -19.37% off its SMA200. COIN registered -74.75% loss for a year compared to 6-month loss of -20.98%.

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The stock witnessed a 60.02% gain in the last 1 month and extending the period to 3 months gives it a -12.00%, and is 11.96% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 9.83% over the week and 9.05% over the month.

Coinbase Global Inc. (COIN) has around 3730 employees, a market worth around $11.38B and $5.06B in sales. Profit margin for the company is -22.10%. Distance from 52-week low is 77.37% and -74.27% from its 52-week high. The company has generated returns on investments over the last 12 months (37.60%).

Coinbase Global Inc. (COIN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Coinbase Global Inc. (COIN) is a “Hold”. 30 analysts offering their recommendations for the stock have an average rating of 2.00, where 13 rate it as a Hold and 2 think it is a “Overweight”. 8 of the analysts rate the stock as a “Buy”. 5 analysts have rated the stock as a Sell or Underperform.

Coinbase Global Inc. is expected to release its quarterly report on 05/10/2023.The EPS is expected to grow by 50.00% this year.

Coinbase Global Inc. (COIN) Top Institutional Holders

The shares outstanding are 223.92M, and float is at 175.62M with Short Float at 23.82%.

Coinbase Global Inc. (COIN) Insider Activity

A total of 69 insider transactions have happened at Coinbase Global Inc. (COIN) in the last six months, with sales accounting for 20 and purchases happening 49 times. The most recent transaction is an insider purchase by Lutke Tobias,the company’sDirector. SEC filings show that Lutke Tobias bought 6,834 shares of the company’s common stock on Jan 18 at a price of $54.21 per share for a total of $0.37 million. Following the purchase, the insider now owns 0.19 million shares.

Coinbase Global Inc. disclosed in a document filed with the SEC on Jan 17 that Armstrong Brian (Chairman and CEO) sold a total of 31,143 shares of the company’s common stock. The trade occurred on Jan 17 and was made at $52.81 per share for $1.64 million. Following the transaction, the insider now directly holds 0.0 shares of the COIN stock.

Still, SEC filings show that on Jan 13, Armstrong Brian (Chairman and CEO) disposed off 58,053 shares at an average price of $50.06 for $2.91 million. The insider now directly holds 0 shares of Coinbase Global Inc. (COIN).

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