Coinbase Global Inc, a leading cryptocurrency exchange, is taking a significant step towards supporting the advancement of Web3 and Blockchain technologies. To achieve this, Coinbase has partnered with Truflation, an independent provider of reliable economic data, to offer real-time inflation information to the expanding Web3 and blockchain ecosystem.
By collaborating with Truflation, Coinbase aims to establish a more transparent and standardized investment environment. This partnership will allow Coinbase to access accurate economic data, enabling them to make informed investment decisions.
Looking ahead to the future, Coinbase is actively seeking a standardized set of regulations for the crypto industry. With this goal in mind, they plan to utilize the upcoming G20 summit, scheduled for next year in Brazil, as a platform to foster global consensus on crypto regulation principles.
It is worth noting that the G20 member nations have already endorsed the recommendations for crypto regulation, supervision, and oversight put forth by the Financial Stability Board (FSB). Under the proposed regulatory framework, cryptocurrency firms will be required to share transaction details with relevant jurisdictions on an annual basis, ensuring greater transparency and compliance within the industry.
Coinbase Global, Inc.
COIN
Buy
Updated on: 12/09/2023
Financial Health
Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Sell
Analyst Ratings
| Analyst / firm | Rating |
|---|---|
| Devin Ryan JMP Securities |
Buy |
| Joseph Vafi Canaccord Genuity |
Buy |
| John Todaro Needham |
Buy |
| Dan Dolev Mizuho Securities |
Sell |
| Simon Clinch Atlantic Equities |
Sell |
Coinbase Global Inc. (COIN) Stock Performance and Financial Analysis: September 12, 2023
On September 12, 2023, Coinbase Global Inc. (COIN) stock exhibited interesting movements. Let’s delve into the details of the stock’s performance using the provided data from CNN Money.
Starting with the previous close, COIN stock ended at $80.62. The stock opened higher on September 12, 2023, at $82.13. Throughout the day, the stock experienced a trading range between $80.55 and $86.30. This shows a significant fluctuation in the stock price during the trading session.
The trading volume for COIN stock on September 12, 2023, was 656,441 shares. Comparatively, the average trading volume over the past three months was much higher at 13,641,311 shares. This indicates a lower level of investor participation on that particular day.
With a market capitalization of $19.5 billion, Coinbase Global Inc. is a major player in the finance sector, specifically in the investment banks/brokers industry.
Moving on to the earnings growth, COIN witnessed a decline of -182.78% in the previous year. However, the company managed to turn things around with a positive earnings growth of +78.19% in the current year. Looking ahead, the projected earnings growth for the next five years stands at +5.24%. This indicates a relatively stable growth trajectory for the company.
On the revenue front, COIN experienced a decline of -59.25% in the previous year. This decline could be attributed to market factors or other industry-specific challenges.
The P/E ratio for COIN stock is denoted as NM, which stands for “not meaningful.” This suggests that the company’s earnings are either negative or not available, making it difficult to assess its valuation based on traditional P/E ratios.
The price/sales ratio for COIN is 2.46, indicating that investors are willing to pay $2.46 for every dollar of sales generated by the company. The price/book ratio, on the other hand, stands at 3.47, suggesting that investors are valuing the company at 3.47 times its book value.
Looking at the company’s financials, COIN reported an annual revenue of $3.2 billion in the previous year. However, it incurred a net loss of -$2.6 billion, resulting in a net profit margin of -82.18%. This indicates that the company’s expenses outweighed its revenue, leading to a negative profit margin.
The next reporting date for COIN is set for November 7, 2023, which will provide further insights into its financial health and performance. Analysts are forecasting an EPS (earnings per share) of -$0.70 for the upcoming quarter, indicating a potential loss.
In conclusion, COIN stock exhibited mixed performance on September 12, 2023. While the stock experienced significant price fluctuations, the trading volume was relatively low. The company’s earnings growth and revenue figures showed both positive and negative trends, making it crucial to closely monitor its financial performance in the future.
COIN Stock Analysis: Potential Increase of 4.44% Based on 12-Month Price Forecasts
On September 12, 2023, Coinbase Global Inc (COIN) stock had a median target price of $85.00, according to 22 analysts offering 12-month price forecasts. The high estimate for the stock was $200.00, while the low estimate was $27.00. This indicates a potential increase of 4.44% from the last price of $81.39.
The current consensus among 28 polled investment analysts is to hold stock in Coinbase Global Inc. This rating has remained steady since August, when it was unchanged from a hold rating.
According to the latest financial data available, Coinbase Global Inc reported earnings per share of -$0.70 for the current quarter. The company’s sales for the same period were $670.6 million.
Investors should also consider the reporting date of November 7, which suggests that the financial data mentioned above is subject to change.
In conclusion, the performance of COIN stock on September 12, 2023, was influenced by the 12-month price forecasts provided by analysts. The median target price of $85.00 suggests a potential increase of 4.44% from the last price. The current consensus among investment analysts is to hold stock in Coinbase Global Inc. Investors should consider multiple factors, including the company’s financial performance and industry trends, to make informed investment decisions.
