Coinbase Global Inc. (NASDAQ:COIN) closed Monday at $62.70 per share, down from $62.96 a day earlier. While Coinbase Global Inc. has underperformed by -0.41%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, COIN fell by -73.50%, with highs and lows ranging from $368.90 to $40.83, whereas the simple moving average fell by -65.03% in the last 200 days.
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On July 06, 2022, Atlantic Equities Downgraded Coinbase Global Inc. (NASDAQ: COIN) to Neutral. A report published by Goldman on June 27, 2022, Downgraded its rating to ‘Sell’ for COIN. Needham Reiterated the rating as Buy on June 15, 2022, but set its price target from $173 to $89. JP Morgan June 14, 2022d its ‘Overweight’ rating to ‘Neutral’ for COIN, as published in its report on June 14, 2022. Cowen’s report from May 26, 2022 suggests a price prediction of $85 for COIN shares, giving the stock a ‘Outperform’ rating. Goldman also rated the stock as ‘Neutral’.
Analysis of Coinbase Global Inc. (COIN)
Further, the quarter-over-quarter decrease in sales is -35.20%, showing a negative trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Coinbase Global Inc.’s future performance, with equity being one of the most critical indicators. Taking into account the quick ratio of the company, currently set at 1.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and COIN is recording an average volume of 15.91M. On a monthly basis, the volatility of the stock is set at 11.28%, whereas on a weekly basis, it is put at 12.27%, with a loss of -6.52% over the past seven days. Furthermore, long-term investors anticipate a median target price of $113.23, showing growth from the present price of $62.70, which can serve as yet another indication of whether COIN is worth investing in or should be passed over.
How Do You Analyze Coinbase Global Inc. Shares?
Coinbase Global Inc. (COIN) is based in the USA and is one of the most prominent companies operating in the Software – Application market. When comparing Coinbase Global Inc. shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 6.02, there is a growth in quarterly earnings of -303.50%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.30%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 50.90% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in COIN shares?
The recent increase in stakes in COIN appears to be a result of several institutional investors and hedge funds increasing their positions. ARK Investment Management LLC’s position in COIN has increased by 28.19% in the first quarter. The company now owns 8,951,225 shares of the stock, with a value of $420.89 million, following the purchase of 1,968,476 additional shares during the last quarter. During the last quarter, the company picked up 6,938,548 additional shares for a total stake of worth $326.25 million, bringing number of shares owned by the company to 6,938,548.
During the first quarter, The Vanguard Group, Inc. added a 264,812 position in COIN. Nikko Asset Management Americas, purchased an additional 0.58 million shares in the last quarter, increasing its holdings by 13.51%, now holding 4.9 million shares worth $230.61 million. At the end of the first quarter, Morgan Stanley Investment Managem increased its COIN holdings by 24.00% and now holds 4.0 million COIN shares valued at $188.12 million with the added 0.77 million shares during the period. COIN shares are owned by institutional investors to the tune of 50.90% at present.