In the second quarter, Tsfg LLC increased its holdings of Coinbase stock (NASDAQ:COIN). The company paid $47,000 for 999 shares of Coinbase stock (NASDAQ:COIN) on the bitcoin exchange.
Coinbase trading is down 0.4%.
On Thursday, NASDAQ:COIN opened at $67.64. The current ratio is 1.06, the quick ratio is 1.06, and the debt-to-equity ratio is 0.58. The firm is worth $14.85 billion, with a PE ratio of -33.49 and a beta of 3.31. The 12-month low for Coinbase stock (NASDAQ:COIN) is $40.83, and the 12-month high is $368.90. The fifty-day simple moving average for the company is $73.10, and the 200-day simple moving average is $96.49.
Coinbase (NASDAQ:COIN) recently reported quarterly results on August 9th. For the quarter, the cryptocurrency exchange posted ($4.95) earnings per share, missing analysts’ average projections of ($3.04) by ($1.91). Coinbase had a 4.79% negative net margin and a 4.61% negative return on equity. The company’s revenue for the quarter was $808.33 million, compared to analysts’ forecasts of $877.32 million. Equities research analysts forecast that Coinbase Global, Inc. will earn -10.99 cents per share this fiscal year.
Analysts Revise Coinbase Stock Price Targets
Several analysts have weighed in on the firm. In a statement issued on Thursday, July 14th, Mizuho dropped their target price for Coinbase Global from $45.00 to $42.00 and assigned the firm a “neutral” rating. In a report issued on Wednesday, September 14th, JPMorgan Chase & Co. raised their price target on Coinbase Global from $64.00 to $78.00 and assigned the company a “neutral” rating. In a research report issued on Thursday, June 23rd, Redburn Partners downgraded Coinbase Global from a “buy” recommendation to a “neutral” one. In a research note released on Monday, August 15th, BTIG Research cut their price target on Coinbase Global to $220.00. Finally, in a research report issued on Tuesday, September 6th, Atlantic Securities raised their price target on Coinbase Global from $54.00 to $67.00 and assigned the company a “neutral” rating. Two equity research analysts have given the stock a sell recommendation, six have given it a hold rating, and sixteen have given it a buy rating. According to MarketBeat statistics, the company now has an average “Moderate buy” rating with a target price of $164.14.
Global Profile of Coinbase
Coinbase Global, Inc. offers financial infrastructure and technology to the cryptocurrency industry in the United States and worldwide. The company provides a financial account in the crypto-economy, a marketplace with a liquidity pool for institutions to transact in crypto assets, and technology and services enabling ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.
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Author Okoro Chinedu 
