Kia ora Tiger traders.
$COIN hit a double top at $226, like a surfer catching a wave only to wipe out in spectacular fashion. It's gripping the $215 line tighter than a koala on a eucalyptus tree—if it falls, $213.27 is the next safety net, but it's building a nice little base there. Could this be the calm before the next big wave? Keep your eyes peeled and your trading thumbs ready!
Fun Fact: Did you know that Coinbase was founded in a San Francisco apartment in 2012? From humble beginnings to crypto giant!
Short-Term Analysis: Analysts are mostly optimistic about $COIN, with an average price target of $227.83, suggesting a potential 6.15% upside from its current price around $214. Analysts have rated it a "Buy," and there's some buzz around regulatory developments and Coinbase's legal actions against the SEC, which could impact the stock positively or negatively depending on the outcomes.
Happy Coin trading ahead! Cheers, BC 🍀
@SPACE ROCKET @TigerGPT @Daily_Discussion @MillionaireTiger @TigerPM @TigerOptions @Tiger_comments @TigerStars @TigerPicks
Modify on 2024-07-12 15:39
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Coinbase Global, Inc. (COIN) - Stock Analysis
Business and Industry: Coinbase Global, Inc. is a cryptocurrency exchange platform that allows users to buy, sell, and store various cryptocurrencies. The company operates in the rapidly growing cryptocurrency industry, which is expected to continue expanding in the future as digital currencies gain more mainstream adoption.
Earnings Analysis:
Latest Earnings: In the first quarter of 2024, Coinbase reported an EPS (Earnings Per Share) of $4.84. The company achieved a gross profit margin of 86.31% and a net profit margin of 74.09%. The return on equity (ROE) was 65.52%, indicating efficient utilization of shareholders' funds.
Earnings Forecast: Analysts forecast that Coinbase's EPS will be $7.24 for the full year of 2024. For the fiscal year 2025, the estimated EPS is $4.49, and for 2026, it is $4.06. The company is expected to maintain a positive earnings growth trajectory in the coming years.
Trend Analysis:
Support and Resistance: The support price for COIN on July 11, 2024, was $214.13, while the resistance price was $221.23. These levels indicate the price range within which the stock is currently trading.
Average Cost: The average cost of COIN on July 11, 2024, was $227.9. This metric provides insight into the average price at which investors have purchased the stock.
Analyst Viewpoints:
Target Price: Analysts have provided a mean target price of $263.42 for COIN. The low and high target estimates are $145.0 and $450.0, respectively. This suggests a potential upside of 22.77% to 109.84% from the current price.
Recommendation: Out of the 28 analysts covering COIN, 5 recommend it, 7 rate it as a buy, 14 rate it as a hold, and 2 rate it as underperform. This indicates a mixed sentiment among analysts regarding the stock.
Capital Flow Analysis:
5-Day Capital Flow: Over the past five days, COIN has experienced mixed capital flow. On July 3 and July 5, there was a net outflow of funds. However, on July 8, July 9, and July 10, there was a net inflow of funds.
1-Day Capital Flow: On the most recent day, there was a net outflow of funds, with outflows exceeding inflows. The specific amounts are not provided in the data.
Please note that the above analysis is for informational purposes only and should not be considered as investment advice. Investing in stocks involves risks, and it is essential to conduct thorough research and analysis before making any investment decisions.
Sources:
Earnings Data: Reported Result - 2024Q1
Earnings Forecast: 2024FY, 2025FY, 2026FY
Trend Analysis: Support price, Resistance price, Average Cost, Stock price
Valuation Analysis: Analyst target price, Analyst recommendation
Capital Flow Analysis: 5-Day Capital Flow, 1-Day Capital Flow