Coinbase (COIN) Rises After Settlement News

Coinbase Global rose 7.3% during the morning session to $36.04 per share. As reported by Barrons: "Coinbase Global was rising sharply Wednesday after the company agreed to a $100 million settlement with the New York Department of Financial Services over failures in the crypto broker's compliance program." 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 3.7 and a P/B ratio of 1.5.

Coinbase Global has moved -85.7% over the last year compared to -18.6% for the S&P 500 -- a difference of -67.0%. Coinbase Global has a 52 week high of $248.69 and a 52 week low of $31.83. At today's price of $36.04 per share, Coinbase Global is 6113.79% away from its target price of $0.58, and on average, analysts give the stock a rating of buy. 24.1% of the company's shares are linked to short positions, and 59.3% of the shares are owned by institutional investors.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.