COIN Stock Slips Below 50-Day SMA: What Should You Do Now?

Zacks12-24 23:49

Coinbase Global Inc. COIN has been trading below its 50-day simple moving average (SMA), signaling a short-term bearish trend. The stock closed at $268.15 as of Dec 23, 2024, down 23% from its 52-week...

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The stock closed at $268.15 as of Dec 23, 2024, down 23% from its 52-week...</p>\n\n<a href=\"https://finance.yahoo.com/news/coin-stock-slips-below-50-154900220.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>COIN Stock Slips Below 50-Day SMA: What Should You Do Now?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCOIN Stock Slips Below 50-Day SMA: What Should You Do Now?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-24 23:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/coin-stock-slips-below-50-154900220.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Coinbase Global Inc. COIN has been trading below its 50-day simple moving average (SMA), signaling a short-term bearish trend. The stock closed at $268.15 as of Dec 23, 2024, down 23% from its 52-week...</p>\n\n<a href=\"https://finance.yahoo.com/news/coin-stock-slips-below-50-154900220.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4596","symbol_name":"哈里斯概念","start_time":0,"source_url":"https://finance.yahoo.com/news/coin-stock-slips-below-50-154900220.html","article_id":"2494032529","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/4PURcsPrBjT6v3tdmyImIQ--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/0545e5b8407d0d6988390ad023279192"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2494032529","pubTimestamp":1735055340,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Coinbase Global Inc. COIN has been trading below its 50-day simple moving average , signaling a short-term bearish trend. The stock closed at $268.15 as of Dec 23, 2024, down 23% from its 52-week high of $349.75.The 50-day SMA is a key indicator for traders and analysts to identify support and resistance levels. It is considered particularly important as this is the first marker of an uptrend or downtrend.COIN, America's largest registered crypto exchange, has a market capitalization of $67.1 billion. The average volume of shares traded in the last three months was 13.7 million.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4596":"哈里斯概念","BK4600":"加密货币概念","BK4112":"金融交易所和数据","LU0963586101.USD":"ALLIANZ GLOBAL SMALL CAP EQUITY \"AT\" ACC","BK4127":"投资银行业与经纪业","BK4539":"次新股","HOOD":"Robinhood","BK4516":"特朗普概念","BK4554":"元宇宙及AR概念","IBKR":"盈透证券","BK4585":"ETF&股票定投概念","BK4595":"比特币概念","BK4535":"淡马锡持仓","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","BK4588":"碎股","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","BK4551":"寇图资本持仓","LU0971096721.USD":"富达环球金融服务 A","COIN":"Coinbase Global, Inc.","BK4547":"WSB热门概念","LU1861558580.USD":"日兴方舟颠覆性创新基金B"},"translate_title":"COIN股票跌破50日移动平均线：你现在应该做什么？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IBKR":1,"HOOD":1,"COIN":1},"content_text":"Coinbase Global Inc. COIN has been trading below its 50-day simple moving average (SMA), signaling a short-term bearish trend. The stock closed at $268.15 as of Dec 23, 2024, down 23% from its 52-week high of $349.75.The 50-day SMA is a key indicator for traders and analysts to identify support and resistance levels. It is considered particularly important as this is the first marker of an uptrend or downtrend. COIN, America's largest registered crypto exchange, has a market capitalization of $67.1 billion. The average volume of shares traded in the last three months was 13.7 million.\nImage Source: Zacks Investment Research\nHowever, shares of COIN have lost 14.7% in a month, worse than the industry’s decrease of 1.4%, the sector’s decline of 5.3% and the Zacks S&P 500 composite’s decline of 0.3% in the same time frame.\nCOIN vs Industry, Sector & S&P 500 in a Month\nImage Source: Zacks Investment Research\nCOIN is expected to benefit from Trump’s second-term electoral win, given a pro-crypto environment and easing regulatory control. However, its past month price performance does not reflect this. Bitcoin, the largest cryptocurrency, has also lost 4% in a month’s time.\nMixed Analyst Sentiment for COIN\nThe Zacks Consensus Estimate for 2024 and 2025 has moved 3.3% and 19.1% higher, respectively, in the past 30 days.Though the Zacks Consensus Estimate for 2024 earnings implies a 1356.8% year-over-year increase, the same for 2025 suggests a 40% decrease.\nFactors Favoring COIN Stock\nCOIN provides financial infrastructure and technology for the crypto economy in the United States and internationally. America's largest registered crypto exchange is set to benefit from higher crypto asset volatility and crypto asset prices. Increasing regulatory clarity acts as a catalyst for Coinbase and the broader crypto economy. Strengthening banking connections, new licenses and the expansion of tailor-made product ranges to meet unique customer preferences are helping COIN scale heights. Coinbase stays focused on growth by increasing its market share in the U.S. spot and derivatives markets and expanding its product portfolio and the international market. This apart, growth in stablecoins should also fuel the company’s top line.  \nCOIN has been prioritizing crypto utility. It envisions bringing 1 billion or more people on crypto rail and is thus heavily investing in infrastructure and foundational platforms like Layer 2s, Base and Stablecoins. COIN partnered with Stripe to enhance the global adoption of crypto.In the fourth quarter of 2024, Coinbase expects technology and development and general and administrative expenses to be in the range of $690-$730 million. Additionally, the company expects sales and marketing to be between $170 million and $220 million, driven by higher on-platform USDC balances and higher brand spend.Focus on shifting to a subscription-based model enabled COIN to maintain positive EBITDA for the last six consecutive quarters. Its liquidity supports strategic investment in growth initiatives and expands its service offerings.\nUnfavorable Return on Capital\nCOIN’s return on equity in the trailing 12 months was 14.8%, lower than the industry average of 48.2%, reflecting inefficiency in utilizing shareholders’ funds.\nImage Source: Zacks Investment Research\nThe return on invested capital in the trailing 12 months was 7.6%, which compared unfavorably with the industry average of 21.4%. This reflects the insurer’s inefficiency in utilizing funds to generate income.\nImage Source: Zacks Investment Research\nAverage Target Price for COIN Suggests a Downside\nBased on short-term price targets offered by 22 analysts, the Zacks average price target is $289.77 per share. The average suggests a potential 4% upside from Monday’s closing price.\nImage Source: Zacks Investment Research\nExpensive Valuation\nCoinbase shares are trading at a premium to the Zacks Financial Transaction Service Market. Its 12-month forward price-to-earnings of 81.75X is much higher than the industry average of 25.27X, the broader sector’s 25.64X and the Zacks S&P 500 composite’s 22.38X.Its Value Score of F suggests that the stock is not so cheap and indicates a stretched valuation at this moment.\nImage Source: Zacks Investment Research\nShares of Robinhood Markets HOOD and Interactive Brokers Group, Inc. IBKR, two other crypto-oriented stocks, are also trading at a multiple higher than the industry average.\nParting Thoughts on COIN Stock\nThe inherent volatility in crypto prices exposes COIN to operational risks. The failure of its foundational platforms also poses risks. Coinbase, the custodian of client assets, is also exposed to cyber threats.Nonetheless, the company’s efforts to accelerate growth in the crypto market, increase market share in spot trading on consumer and institutional trading platforms and improve trading experience, along with continued innovation, should help it accelerate growth. Despite the price decline, analysts remain optimistic and the target price also reflects upside potential. These instill investor confidence.Therefore, despite its premium valuation, it's time to take a position in this Zacks Rank #1 (Strong Buy) stock. You can see the complete list of today’s Zacks #1 Rank stocks here.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nInteractive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report\nCoinbase Global, Inc. (COIN) : Free Stock Analysis Report\nRobinhood Markets, Inc. (HOOD) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2494032529"}