Shares of Coinbase Global (NASDAQ: COIN) have been hammered because of ongoing volatility in the cryptocurrency market. However, today Coinbase is also getting smacked because of a lowered price target from a Wall Street analyst. As of 1:45 p.m. ET, shares of Coinbase were down 2% but had been down almost 8% earlier in the session.
Should you buy Coinbase stock following recent sell off?
This was short-lived, and the stock has been on a downward spiral, falling over 20% since December 2021. Let's dig in and see if now is an opportune time to buy Coinbase on the dip. Despite the ...
Is now a good time to buy Coinbase stock?
Until then, Coinbase stock looks like an incredible buy. In fact, I feel so strongly about this opportunity that I picked up a few Coinbase shares just before the holidays. The stock is another 12% cheaper now, giving you an ever more inviting point of entry here.
Will Coinbase refund if your account is hacked?
While you’ll be eligible for a refund from Coinbase in case the company’s error caused unauthorized transactions from your account, you won’t receive a refund if you shared your account info with a third party. Coinbase might lock your E-Money Wallet temporarily.
Can Coinbase stock Turbocharge Your portfolio?
The vast majority of companies are privately held – not just anyone can decide to invest in them ... corporate purposes should help to turbo-charge growth, but it comes at the cost of share ...
Why did Coinbase revenue drop?
Shares of Coinbase plunged 12.7% to $63.71 in extended trading after the cryptocurrency exchange operator also reported a fall in trading volumes and forecast an even bigger drop in the current quarter due to a decline in crypto asset prices.
Is Coinbase losing market share?
The firm's market value has shrunk by about $51 billion since the end of its first day of trading last April. Coinbase shares fell to an all-time low earlier in May, and even after recovering somewhat are still down about 80% from their debut. That's a steeper drop than Bitcoin's 53% slump in the same period.
Will Coinbase ever go back up?
Coinbase is “unlikely to return to recent levels of profitability in the near term absent a significant increase in crypto prices or volatility,” Will Nance, an analyst at Goldman Sachs Group Inc. wrote in a note. “We believe COIN's stock will struggle to outperform in the near term.”
Is Coinbase stock a good buy?
So, is it time to buy Coinbase stock following this big sell-off? The stock currently trades at just about 4x our consensus 2022 revenue, which is not exactly a rich valuation for a highly profitable and futuristic stock with solid long-term earnings potential.
Is Coinbase in financial trouble?
According to the earnings report, Coinbase's first-quarter revenue slumped to $1.17 billion, below Wall Street's expectations of $1.48 billion. The exchange's total trading volume shrank from $547 billion in the fourth quarter of 2021 to $309 billion. Coinbase said its first-quarter net loss was $430 million.
What is the future of Coinbase stock?
Stock Price Forecast The 21 analysts offering 12-month price forecasts for Coinbase Global Inc have a median target of 95.00, with a high estimate of 290.00 and a low estimate of 45.00. The median estimate represents a +94.23% increase from the last price of 48.91.
Which coin is best to invest now?
What are the best cryptocurrencies to invest in for the long term...Ethereum (ETH) The best cryptos to invest in in 2022 are Ethereum and Bitcoin. ... ApeCoin. ApeCoin is another top cryptocurrency to invest in in 2022. ... Bitcoin (BTC) ... Binance Coin (BNB) ... Uniswap. ... Solana (SOL) ... Dogecoin.
What's the best crypto to buy right now?
Bitcoin (BTC) Market cap: $370 billion. ... Ethereum (ETH) Market cap: $128 billion. ... Tether (USDT) Market cap: $66 billion. ... U.S. Dollar Coin (USDC) Market cap: $55 billion. ... Binance Coin (BNB) Market cap: $35 billion. ... Binance USD (BUSD) Market cap: $17 billion. ... XRP (XRP) Market cap: $15 billion. ... Cardano (ADA)More items...•
Will Coinbase stock go up 2022?
Mizuho analyst Dan Dolev estimates Coinbase's annual operating expenses will climb 130% in 2022, with up to $300 million in development costs for NFTs.
Is Coinbase a good investment 2022?
As the crypto market increases in value throughout the next decade, Coinbase will continue attracting a good chunk of those assets. The number of users Coinbase has will go up as well, thanks to the company's brand recognition, focus on security, and exceptional customer experience.
Is Coinbase undervalued?
Coinbase's stock is overvalued And the company recorded net earnings of $8.89 a share in 2021, up from $5.68 a year ago.
Is Coinbase good for long term investing?
Coinbase is a good service to use for long-term investing as long as you have more than a basic understanding of cryptocurrency. At an advanced level, you will be able to use Coinbase's Pro Account to maximize your investment in the long term with the extra features that the service offers.
What happened
Shares of Coinbase Global (NASDAQ: COIN) have been hammered because of ongoing volatility in the cryptocurrency market. However, today Coinbase is also getting smacked because of a lowered price target from a Wall Street analyst. As of 1:45 p.m. ET, shares of Coinbase were down 2% but had been down almost 8% earlier in the session.
So what
According to The Fly, Mizuho analyst Dan Dolev lowered the price target for Coinbase stock from $300 per share to $220 per share -- a meaningful 27% decrease. While Dolev's rating is technically neutral, as it's always been, the lower price target signals lower confidence to the investors who follow advice from Mizuho.
Now what
In fairness to Dolev, there's good reason to lower near-term expectations for Coinbase. You may have heard that volatility is good for Coinbase's business. That's true in a way -- the company generates most of its revenue from trading fees. Therefore, more volatility leads to increased trading and hence more business for Coinbase.
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