Can Market Sentiment Sustain COIN's Price Surge Today?

Coinbase Global surged to $98.61 per share this evening, but it remains 24552.5% above its mean target price of $0.4. There may still be room for more downwards movement — even after today's 4.1% drop. Analysts are giving the large-cap Diversified Financial stock on average rating of buy, with target prices ranging from $0.4 to $0.4 per share.

The stock has an unusually large proportion of its shares sold short at 21.3%, and a short ratio of 1.66. The company's insiders own 4.19% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 59.3% of Coinbase Global's shares being owned by this investor type.

Institutions Invested in Coinbase Global

Date Reported Holder Percentage Shares Value
2023-03-31 Vanguard Group Inc 7% 13,581,498 $1,339,271,526
2023-06-30 ARK Investment Management, LLC 6% 12,121,881 $1,195,338,692
2023-03-31 Sumitomo Mitsui Trust Holdings, Inc. 5% 8,610,945 $849,125,291
2023-03-31 Nikko Asset Management Americas, Inc. 4% 8,298,784 $818,343,095
2023-03-31 Blackrock Inc. 4% 7,558,443 $745,338,068
2023-03-31 FMR, LLC 4% 6,791,776 $669,737,035
2023-03-31 Morgan Stanley 2% 4,161,132 $410,329,229
2023-03-31 Paradigm Operations LP 2% 3,705,596 $365,408,823
2023-03-31 State Street Corporation 2% 3,094,590 $305,157,521
2023-03-31 Geode Capital Management, LLC 1% 2,341,989 $230,943,536

Besides an analyst belief that shares are overpriced, other market factors point to there being mixed market sentiment on Coinbase Global.

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.