Tsfg LLC Makes a $47,000 Investment in Coinbase Stock

Coinbase stock

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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About the author: Okoro Chinedu is a freelance writer specializing in health and finance, with a keen interest in cryptocurrency and blockchain technology. He has worked in content creation and digital journalism. Since 2019, he has written on various online platforms, and his work has been recognized by several important media sources and specialists in finance and crypto. In addition to writing, Chinedu enjoys reading, playing football, posing as a medical student, and traveling.