A correction may be in store for Coinbase Global Inc. (NASDAQ:COIN) shares?

In the latest session, Coinbase Global Inc. (NASDAQ: COIN) closed at $41.23 down -8.90% from its previous closing price of $45.26. In other words, the price has decreased by -$4.03 from its previous closing price. On the day, 22227457 shares were traded. COIN stock price reached its highest trading level at $44.64 during the session, while it also had its lowest trading level at $40.61.

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For a deeper understanding of Coinbase Global Inc.’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.10 and its Current Ratio is at 1.10. In the meantime, Its Debt-to-Equity ratio is 0.60 whereas as Long-Term Debt/Eq ratio is at 0.60.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, BofA Securities on November 18, 2022, Downgraded its rating to Neutral and sets its target price to $50 from $77 previously.

On November 09, 2022, Daiwa Securities Downgraded its rating to Neutral which previously was Buy and also lowered its target price recommendation from $82 to $52.

On September 29, 2022, Wells Fargo started tracking the stock assigning a Underweight rating and target price of $57.Wells Fargo initiated its Underweight rating on September 29, 2022, with a $57 target price.

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Nov 15 when Lutke Tobias bought 6,952 shares for $55.00 per share. The transaction valued at 382,360 led to the insider holds 106,898 shares of the business.

Armstrong Brian sold 29,732 shares of COIN for $1,625,102 on Nov 11. The Chairman and CEO now owns 0 shares after completing the transaction at $54.66 per share. On Nov 08, another insider, Lutke Tobias, who serves as the Director of the company, bought 6,495 shares for $54.50 each. As a result, the insider paid 353,978 and bolstered with 99,946 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 1.99 while its Price-to-Book (P/B) ratio in mrq is 1.64.

Stock Price History:

Over the past 52 weeks, COIN has reached a high of $339.41, while it has fallen to a 52-week low of $40.83. The 50-Day Moving Average of the stock is 64.77, while the 200-Day Moving Average is calculated to be 99.07.

Shares Statistics:

For the past three months, COIN has traded an average of 13.31M shares per day and 27.22M over the past ten days. A total of 223.92M shares are outstanding, with a floating share count of 175.61M. Insiders hold about 0.20% of the company’s shares, while institutions hold 58.90% stake in the company. Shares short for COIN as of Oct 13, 2022 were 27.77M with a Short Ratio of 26.35M, compared to 26M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 12.33% and a Short% of Float of 17.59%.

Earnings Estimates

There are 18 different market analysts currently analyzing its stock. On average, analysts expect EPS of -$2.4 for the current quarter, with a high estimate of -$1.91 and a low estimate of -$3.21, while EPS last year was $1.62. The consensus estimate for the next quarter is -$2.24, with high estimates of -$1.7 and low estimates of -$3.28.

Analysts are recommending an EPS of between -$4.5 and -$15.52 for the fiscal current year, implying an average EPS of -$11.48. EPS for the following year is -$5.27, with 24 analysts recommending between $3.93 and -$9.46.

Revenue Estimates

A total of 26 analysts have provided revenue estimates for COIN’s current fiscal year. The highest revenue estimate was $4.78B, while the lowest revenue estimate was $3.02B, resulting in an average revenue estimate of $3.41B. In the same quarter a year ago, actual revenue was $7.84B, down -56.50% from the average estimate. Based on 27 analysts’ estimates, the company’s revenue will be $4.22B in the next fiscal year. The high estimate is $5.95B and the low estimate is $2.85B. The average revenue growth estimate for next year is up 23.70% from the average revenue estimate for this year.