Coinbase Stock Soars as Bitcoin Price Surges
November 21, 2023
🌥️Trending News
Today, Coinbase Global ($NASDAQ:COIN) Inc. (COINBASE) saw its stock soar as the price of bitcoin surged. The surge in Coinbase stock can be attributed to the corresponding surge in the price of bitcoin. The surge in Coinbase stock today is further evidence of the increasing mainstream acceptance of digital currencies, and underscores the immense potential of the cryptocurrency market.
As more and more people become involved in this space, it is likely that Coinbase will continue to benefit from the increased demand for its services. Therefore, investors can expect the company to remain a major player in the digital currency industry for the foreseeable future.
Price History
Shares opened at $100.7 and closed at $106.1, up 7.1% from the previous closing price of 99.0. The company’s strong performance has been driven in part by its position as the largest U.S. cryptocurrency exchange, as well as increasing investor demand for cryptocurrency holdings and its strong corporate governance practices. 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
At GoodWhale, our analysis is based onCOINBASE GLOBAL‘s financials. According to our Star Chart, COINBASE GLOBAL has a high health score of 7/10 with regard to its cashflows and debt. This indicates that it is capable of paying off its debt and funding operations in the future. In terms of performance, COINBASE GLOBAL is strong in growth and profitability, and medium in terms of assets. Its dividend performance is weak. In light of this, we classify it as a ‘rhino’: a company that has achieved moderate revenue or earnings growth. Given COINBASE GLOBAL’s unique financial standing, we believe that investors who are interested in moderate growth companies, or those looking for stable long-term investments, would be drawn to it. 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
Coinbase Global (COIN) is a leading cryptocurrency exchange platform that enables users to buy, sell, and trade digital currencies. The company’s stock has been on a steady climb in recent months due to increased interest in cryptocurrencies globally, as well as the company’s strong fundamentals. Coinbase is widely regarded as one of the safest and most reliable exchanges, and its advanced security measures have made it a preferred choice for investors.
The company also offers a variety of products and services that are designed to make investing in digital currencies easier and more profitable. As the demand for cryptocurrencies continues to grow, Coinbase is well positioned to benefit from this trend and maintain its leading position in the industry.
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