Analysts Cautious After Coinbase Global’s Stellar Rally, According to TipRanks.com
November 16, 2023
🌧️Trending News
Analysts have taken a cautious approach to Coinbase Global ($NASDAQ:COIN)’s stock after its impressive rally, according to TipRanks.com. Coinbase is a leading cryptocurrency exchange and wallet platform that enables users to easily buy, sell, and store digital currency. Analysts have noticed the stellar rise of Coinbase’s stock, but are taking a cautious approach due to the unpredictable nature of cryptocurrencies. TipRanks.com reported that analysts have given Coinbase a “Hold” rating, citing its volatile stock performance and potential valuation risks.
Analysts also noted that Coinbase faces competition from other exchanges, such as Binance and Kraken, and must continue to invest in developing its platform in order to remain competitive. Despite the cautious approach, analysts remain optimistic about Coinbase’s long-term prospects.
Price History
Analysts have become increasingly cautious towards COINBASE GLOBAL following its impressive rally on Wednesday. According to TipRanks.com, COINBASE GLOBAL stock opened at $93.9 and closed at $98.2, which represents a 6.6% increase from its last closing price of $92.1. As the company’s stock continues to surge, analysts are being more careful in their evaluations of the company’s prospects. Investors may be advised to do the same, as current market prices may not accurately reflect the long-term outlook of COINBASE GLOBAL. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Coinbase Global. More…
| Total Revenues | Net Income | Net Margin |
| 2.78k | -735.57 | -57.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Coinbase Global. More…
| Operations | Investing | Financing |
| 182.7 | -111.24 | -3.37k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Coinbase Global. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 127.31k | 121.38k | 24.75 |
Key Ratios Snapshot
Some of the financial key ratios for Coinbase Global are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 81.6% | – | -25.0% |
| FCF Margin | ROE | ROA |
| 4.2% | -7.4% | -0.3% |
Analysis
We at GoodWhale analyzed the financials of COINBASE GLOBAL and found that the company is strong in growth, profitability and medium in asset and weak in dividend. This classification of a ‘rhino’ is one that has achieved moderate revenue or earnings growth. By looking at our star chart, investors should be aware that COINBASE GLOBAL has an intermediate health score of 6/10 considering its cashflows and debt. This implies that the company might be able to safely ride out any crisis without the risk of bankruptcy. Given its moderate growth rate, COINBASE GLOBAL may be suitable for investors looking for steady yet consistent returns. Those who are looking for rapid growth should consider investing in other companies that are more likely to provide dynamic returns. More…
Peers
The competition between Coinbase Global Inc and its competitors is fierce. Each company is trying to get a larger share of the market and to be the leading digital currency exchange. Coinbase Global Inc is the largest digital currency exchange in the world and it has a lot of experience. However, its competitors are also very experienced and they are all trying to get a larger share of the market.
– Riot Blockchain Inc ($NASDAQ:RIOT)
Riot Blockchain Inc. is a cryptocurrency mining company that focuses on Bitcoin mining. The company has a market capitalization of $981.09 million and a return on equity of -17.02%. Riot Blockchain Inc. was founded in 2000 and is headquartered in Castle Rock, Colorado.
– Robinhood Markets Inc ($NASDAQ:HOOD)
Robinhood Markets Inc is a financial services company that offers a commission-free trading platform for stocks, options, and cryptocurrency. The company has a market cap of 9.19B as of 2022 and a Return on Equity of -33.37%. Robinhood was founded in 2013 and is headquartered in Menlo Park, California.
– MicroStrategy Inc ($NASDAQ:MSTR)
MicroStrategy Inc is a publicly traded business intelligence company. The company has a market cap of 2.66B as of 2022 and a ROE of -77.69%. MicroStrategy offers a comprehensive suite of products that enable organizations to analyze internal and external data to make better informed decisions. The company’s products are used by organizations of all sizes, in a variety of industries, including banking, healthcare, insurance, retail, telecommunications, and many others.
Summary
Despite the strong run-up, analysts remain cautious about the stock’s short-term outlook. The bullish analysts cite the company’s strong fundamentals and potential upside from the crypto market, while the more conservative analysts are warning of the potential risks related to high volatility in the crypto market. Investors should closely monitor Coinbase’s performance in the coming months as it is likely to remain volatile.
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