In What Direction Will Coinbase Global Inc.’s (NASDAQ:COIN) Stock Goes From Here?

The closing price of Coinbase Global Inc. (NASDAQ: COIN) was $55.96 for the day, up 1.45% from the previous closing price of $55.16. In other words, the price has increased by $+0.80 from its previous closing price. On the day, 17674196 shares were traded. COIN stock price reached its highest trading level at $56.69 during the session, while it also had its lowest trading level at $53.21.

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Our analysis of COIN’s different ratios will help us gain a deeper understanding of the company. 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 January 11, 2023, Downgraded its rating to Underperform and sets its target price to $35 from $50 previously.

On January 09, 2023, Jefferies started tracking the stock assigning a Hold rating and target price of $35.

Cowen Downgraded its Outperform to Market Perform on January 05, 2023, while the target price for the stock was maintained at $36.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Jan 18 when Lutke Tobias bought 6,834 shares for $54.21 per share. The transaction valued at 370,471 led to the insider holds 190,670 shares of the business.

Armstrong Brian sold 31,143 shares of COIN for $1,644,785 on Jan 17. The Chairman and CEO now owns 0 shares after completing the transaction at $52.81 per share. On Jan 13, another insider, Armstrong Brian, who serves as the Chairman and CEO of the company, sold 58,053 shares for $50.06 each. As a result, the insider received 2,906,418 and left with 0 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 2.25 while its Price-to-Book (P/B) ratio in mrq is 2.23.

Stock Price History:

Over the past 52 weeks, COIN has reached a high of $217.49, while it has fallen to a 52-week low of $31.55. The 50-Day Moving Average of the stock is 42.90, while the 200-Day Moving Average is calculated to be 69.40.

Shares Statistics:

COIN traded an average of 15.63M shares per day over the past three months and 19.57M shares per day over the past ten days. A total of 223.92M shares are outstanding, with a floating share count of 175.62M. Insiders hold about 0.20% of the company’s shares, while institutions hold 59.30% stake in the company. Shares short for COIN as of Oct 13, 2022 were 27.77M with a Short Ratio of 41.83M, 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

The firm’s stock currently is rated by 18 analysts. 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.