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Wednesday, March 22, 2023

Is Coinbase Global Inc. (NASDAQ: COIN) No Longer A Good Investment?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Coinbase Global Inc. (COIN) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.37, or 0.57%, to $64.84. The Coinbase Global Inc. has recorded 186,062 volume in the after hours trading session. The stock was recently discussed on Yahoo Finance as it revealed that Coinbase to Participate in the Morgan Stanley Technology, Media and Telecom Conference.

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Stocks Info

COIN belongs to the Financial sector of the NASDAQ while operating in the Financial Data & Stock Exchanges industry. At the end of the last regular session, the stock closed at $64.47 and fluctuated between $66.29 as its day high and $61.18 as its day low. The current market capitalization of Coinbase Global Inc. is $16.22B. A total of 20.76 million shares were traded on the day, compared to an average of 18.30M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, COIN has seen 29 BUY and 17 SELL insider trades, representing the acquisition of 321,985 and the disposition of 224,569 shares. Over the last 12 months, there were 103 BUYs and 45 SELLs from insiders. Insiders purchased 1,804,092 shares during that period but sold 379,360.

In the most recent transaction, Armstrong Brian sold 29,732 shares of COIN for 57.53 per share on Mar 13. After the transaction, the Chairman and CEO now owns 0 company shares. In a previous transaction on Mar 01, Armstrong Brian sold 29,732 shares at 64.46 per share. COIN shares that Chairman and CEO owns now total 0.

Among the insiders who sold shares, Grewal Paul disposed of 2,325 shares on Feb 27 at a per-share price of $59.42. This resulted in the Chief Legal Officer holding 64,735 shares of COIN after the transaction. In another insider transaction, Jones Jennifer N. sold 8,197 shares at $62.12 per share on Feb 23. Company shares held by the Chief Accounting Officer now total 34,752.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for COIN in the last 3 months, the mean price target is $64.08 with high estimates of $150.00 and low estimates of $27.00. In terms of 52-week highs and lows, COIN has a high of $206.79 and a low of $31.55.

As of this writing, COIN has an earnings estimate of -$0.01 per share for the current quarter. EPS was calculated based on a consensus of 2 estimates, with a high estimate of $0 per share and a lower estimate of -$0.01. The company reported an EPS of -$0.16 in the last quarter, which was -220.00% lower than expectations of -$0.05.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 28 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for COIN is Sell with a score of 3.39. A total of 9 analysts rated the stock as Buy while 0 rated it as Overweight while 12 rated it as Hold. Among the other participants, 2 thought the stock was Underweight and 5 thought it should be Sold.

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