Stocks of Coinbase Global Inc (NASDAQ:COIN) traded higher last session on Wall Street, up 3.23% to $197.94.
COIN stock price is now -13.59% away from the 50-day moving average and 4.78% away from the 200-day moving average. The market capitalization of the company currently stands at $49.18B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target enhanced from $260 to $345, Citigroup Upgraded its rating from Neutral to Buy for Coinbase Global Inc (NASDAQ: COIN). On May 17, 2024, BofA Securities Upgraded its previous ‘Underperform’ rating to ‘Neutral’ on the stock increasing its target price from $110 to quote $217, while ‘Barclays’ rates the stock as ‘Underweight’
In other news, Brian Armstrong, Officer bought 23,075 shares of the company’s stock on Aug 05 ’24. The stock was bought for $4,372,020 at an average price of $189.47. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 05 ’24, Chairman and CEO Armstrong Brian sold 23,075 shares of the business’s stock. A total of $4,329,624 was realized by selling the stock at an average price of $187.63. This leaves the insider owning 526 shares of the company worth $0.1 million. A total of 22.98% of the company’s stock is owned by insiders.
During the past 12 months, Coinbase Global Inc has had a low of $69.63 and a high of $283.48. The fifty day moving average price for COIN is $228.521 and a two-hundred day moving average price translates $189.51755 for the stock.
The latest earnings results from Coinbase Global Inc (NASDAQ: COIN) was released for 2024-06-30. The net profit margin was 27.56% and return on equity was 20.99% for COIN. The company reported revenue of $1.45 billion for the quarter, compared to $707.91 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 104.78 percent.
