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The closing price of Coinbase Global Inc (NASDAQ: COIN) was $242.93 for the day, up 4.93% from the previous closing price of $231.52. In other words, the price has increased by $4.93 from its previous closing price. On the day, 7.89 million shares were traded. COIN stock price reached its highest trading level at $249.16 during the session, while it also had its lowest trading level at $237.56.
Ratios:
Our analysis of COIN’s different ratios will help us gain a deeper understanding of the company. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 7.84 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 43.68. In the meantime, Its Debt-to-Equity ratio is 0.56 whereas as Long-Term Debt/Eq ratio is at 0.52.
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, Citigroup on July 23, 2024, Upgraded its rating to Buy and sets its target price to $345 from $260 previously.
On May 17, 2024, BofA Securities Upgraded its rating to Neutral which previously was Underperform and also upped its target price recommendation from $110 to $217.
BofA Securities reiterated its Underperform rating for the stock on April 10, 2024, while the target price for the stock was revised from $92 to $110.
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 Jul 15 ’24 when HAAS ALESIA J sold 4,500 shares for $229.09 per share. The transaction valued at 1,030,909 led to the insider holds 182,903 shares of the business.
Choi Emilie sold 1,500 shares of COIN for $344,550 on Jul 15 ’24. The President & COO now owns 196,471 shares after completing the transaction at $229.70 per share. On Jul 11 ’24, another insider, Armstrong Brian, who serves as the Chairman and CEO of the company, sold 23,075 shares for $220.31 each. As a result, the insider received 5,083,736 and left with 526 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, COIN now has a Market Capitalization of 59656073216 and an Enterprise Value of 57451302912. As of this moment, Coinbase’s Price-to-Earnings (P/E) ratio for their current fiscal year is 48.52, and their Forward P/E ratio for the next fiscal year is 42.67. For the stock, the TTM Price-to-Sale (P/S) ratio is 12.79 while its Price-to-Book (P/B) ratio in mrq is 7.39. Its current Enterprise Value per Revenue stands at 15.207 whereas that against EBITDA is 107.839.
Stock Price History:
Over the past 52 weeks, COIN has reached a high of $283.48, while it has fallen to a 52-week low of $69.63. The 50-Day Moving Average of the stock is 4.23%, while the 200-Day Moving Average is calculated to be 34.16%.
Shares Statistics:
COIN traded an average of 8.60M shares per day over the past three months and 10002220 shares per day over the past ten days. A total of 195.19M shares are outstanding, with a floating share count of 188.35M. Insiders hold about 23.30% of the company’s shares, while institutions hold 39.53% stake in the company. Shares short for COIN as of 1721001600 were 9732922 with a Short Ratio of 1.13, compared to 1718323200 on 9280456. Therefore, it implies a Short% of Shares Outstanding of 9732922 and a Short% of Float of 4.9399999999999995.
