Coinbase (COIN) Stock Forecast: Analysts See 27.2% Upside, Rating Set at Strong Buy

Coinbase Global Inc [NASDAQ: COIN] price plunged by -2.61 percent to reach at -$4.92. The one-year COIN stock forecast points to a potential upside of 27.2. The average equity rating for COIN stock is currently 2.39, trading closer to a bullish pattern in the stock market.

Coinbase Global Inc [NASDAQ: COIN] stock price plunged on Monday after BofA Securities raised its price target on the stock. Coinbase shares dropped to a low of $4.89 before recovering to trade at $4.92, down about -2.61 percent.

Coinbase shares hit a record low of $32.24 in December and have since recovered to trade above $4.90. The stock is still down about -84 percent from its all-time high.

Citigroup has a Buy rating on Coinbase shares with a price target of $400, which was set on 23rd July 2024. BofA Securities raised its price target on the stock from $110 to $217 in a note dated 17th May 2024. BofA has a Underperform rating on the stock.

Previously, BofA raised its price target on the stock from $92 to $110 and maintained its Underperform rating on the stock. On 08th April 2024, analysts raised their price target on COIN shares from 146 to 179.

Coinbase Global Inc has an Average True Range (ATR) of 12.71. The Price to Sales (P/S) ratio for COIN over the last 12 months was 8.47. The Price to Book (P/B) ratio was 5.44 and Price to Cash (P/C) was 33.47 in the last quarter. Finally, the Price to Free Cash Flow for the last twelve months was 24.13.

Coinbase Global Inc [NASDAQ: COIN] Stock Performance

Coinbase Global Inc [COIN] stock fell into the red zone at the end of last week, and the stock hit a downturn and dropped by -13.26 percent.

In the last four-week period, COIN shares dropped by -13.77% and fell by -10.89% in the last 6 months, whileпоказали рост на 118.73 percent in the past year of力は trading.

The Relative Strength Index (RSI) helps in determining overbought and oversold stocks, where an RSI above 70 indicates an overbought condition and a reading below 30 signals an oversold condition. A reading of 50 indicates a neutral market momentum.

TheRSI for COIN stock last two-weeks is 38.66 and the RSI for the last single week was 35.16, and three-weeks RSI for Coinbase Global Inc [NASDAQ: COIN] stock was 40.88. The Moving Average for the last 50 days is 216.42, while the Moving Average for the last single week was 192.83 and the Moving Average for the last 200 days was 196.99.

Coinbase Global Inc [NASDAQ: COIN] Institutional Ownership

Institutions own a large chunk of COIN stock, with about 57.00%% or 55.62 percent.

The top three institutional holders of COIN stock are: VANGUARD GROUP INC with ownership of 17.66 million shares, which is about 7.2725%. FMR LLC, holds 11.03 million shares of the stock with an approximate value of $$2.45 billion in COIN stocks shares; and FMR LLC, currently has $$2.44 billion in COIN stock with ownership which is about 4.5233%.

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