In yesterday’s Wall Street session, Coinbase Global Inc (NASDAQ:COIN) shares traded at $165.01, down -7.39% from the previous session.
COIN stock price is now -13.90% away from the 50-day moving average and -18.08% away from the 200-day moving average. The market capitalization of the company currently stands at $41.00B.
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 reduced from $206 to $169, Barclays Upgraded its rating from Underweight to Equal Weight for Coinbase Global Inc (NASDAQ: COIN). On July 23, 2024, Citigroup Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $260 to quote $345, while ‘BofA Securities’ rates the stock as ‘Neutral’
In other news, Grewal Paul, Chief Legal Officer sold 10,000 shares of the company’s stock on Sep 25 ’24. The stock was sold for $1,700,951 at an average price of $170.10. Upon completion of the transaction, the Chief Legal Officer now directly owns 74,956 shares in the company, valued at $12.37 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 18 ’24, Director Rajaram Gokul sold 400 shares of the business’s stock. A total of $64,536 was realized by selling the stock at an average price of $161.34. This leaves the insider owning 8,171 shares of the company worth $1.35 million. A total of 22.97% of the company’s stock is owned by insiders.
During the past 12 months, Coinbase Global Inc has had a low of $70.41 and a high of $283.48. The fifty day moving average price for COIN is $189.6524 and a two-hundred day moving average price translates $201.48895 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.
