Coinbase Global rose 4.7% during the morning session to $47.38 per share. As reported by Barrons: "Elon Musk isn't the only one raising eyebrows this week at Apple 's 30% fee for in-app purchases. Cryptocurrency exchange Coinbase Global has disabled the transfer of non-fungible tokens, or NFTs, on its iPhone app as it joins a chorus of companies in opposition to the tech giant's payments ..." You can read more about it here. For those of you thinking about investing in the stock, here is a brief look at the company's fundamentals.
Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company belongs to the Technology sector, which has an average price to earnings (P/E) ratio of 26.5 and an average price to book (P/B) ratio of 5.57. In contrast, Coinbase Global has a trailing 12 month P/E ratio of 4.8 and a P/B ratio of 1.9.
Coinbase Global has moved -83.0% over the last year compared to -10.2% for the S&P 500 -- a difference of -72.8%. Coinbase Global has a 52 week high of $290.19 and a 52 week low of $40.61. At today's price of $47.38 per share, Coinbase Global is 3631.1% away from its target price of $1.27, and on average, analysts give the stock a rating of buy.19.7% of the company's shares are linked to short positions, and 59.3% of the shares are owned by institutional investors.