Price Swings Continue for Coinbase Global (COIN)

As Barrons's reports: "Coinbase Global and other beaten-down cryptocurrency stocks ripped higher on Wednesday, only to fall sharply on Thursday. Analysis of the wild ride suggests that "short squeeze" dynamics in a volatile market are at play, and could continue." For more coverage, read the full article here. On the back of this news, Coinbase Global sank -3.2% to a price of $32.45.

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 2.4 and a P/B ratio of 1.3.

At today's price of $32.45 per share, Coinbase Global is -65.86% away from its target price of $95.04, and on average, analysts give the stock a rating of buy. 17.6% of the company's shares are linked to short positions, and 58.4% 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.