In yesterday’s Wall Street session, Coinbase Global Inc (NASDAQ:COIN) shares traded at $236.65, down -3.41% from the previous session.
COIN stock price is now 1.96% away from the 50-day moving average and 58.47% away from the 200-day moving average. The market capitalization of the company currently stands at $58.11B.
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With the price target enhanced from $110 to $217, BofA Securities Upgraded its rating from Underperform to Neutral for Coinbase Global Inc (NASDAQ: COIN). On April 10, 2024, BofA Securities reiterated its ‘Underperform’ rating on the stock by increasing its target price from $92 to quote $110, while ‘Barclays’ rates the stock as ‘Underweight’
In other news, Brock Lawrence J, Chief People Officer sold 16,456 shares of the company’s stock on May 23 ’24. The stock was sold for $3,675,360 at an average price of $223.34. Upon completion of the transaction, the Chief People Officer now directly owns 16,140 shares in the company, valued at $3.82 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 20 ’24, Chief People Officer Brock Lawrence J sold 14,244 shares of the business’s stock. A total of $3,031,082 was realized by selling the stock at an average price of $212.80. This leaves the insider owning 32,596 shares of the company worth $7.71 million. A total of 23.48% of the company’s stock is owned by insiders.
During the past 12 months, Coinbase Global Inc has had a low of $46.43 and a high of $283.48. The fifty day moving average price for COIN is $232.105 and a two-hundred day moving average price translates $149.33846 for the stock.
The latest earnings results from Coinbase Global Inc (NASDAQ: COIN) was released for 2024-03-31. According to the Financial Data & Stock Exchanges Company, earnings per share came in at -0.42, beating analysts’ expectations of -0.77 by 0.35. This compares to -$0.34 EPS in the same period last year. The net profit margin was 28.94% and return on equity was 19.63% for COIN. The company reported revenue of $1.64 billion for the quarter, compared to $772.53 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 111.98 percent. For the current quarter, analysts expect COIN to generate $1.42B in revenue.
Coinbase Global Inc(COIN) Company Profile
Coinbase Global, Inc. provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions. It also provides technology and services that enable developers to build crypto products and securely accept crypto assets as payment. The company was founded in 2012 and is based in Wilmington, Delaware.
