Coinbase Global, Inc. $COIN is a Buy

Crypto exchange Coinbase $COIN fourth-quarter revenue of $605 million, up 5% from the previous quarter and beating the consensus estimate of $588 million. The exchange’s Q4 loss of $2.46 per share topped forecasts for a loss of $2.52.

Valuation

Title

Value

P/E Excl. Extra Items (Annual)

4.28

P/E Excl. Extra Items (TTM)

--

P/E Normalized (Annual)

3.89

Price To Sales (Annual)

1.80

Price To Sales (TTM)

2.78

Price To Tangible Book (Annual)

2.53

Price To Tangible Book (Quarterly)

3.21

Price To Free Cash Flow (Per Share Annual)

1.84

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Technicals

Our volume indicators reflect volume flowing into and out of COIN at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on COIN and have had this outlook for the last 29 periods.

Momentum

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 41.6058. This is not an overbought or oversold reading. The last signal was a buy 4 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 51.62. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 12 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -52. This is not a topping or bottoming area. The last signal was a sell 10 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 7 period(s) ago.

Legendary Short Seller Jim Chanos is still betting against Coinbase $COIN despite its huge rally to start 2023 pic.twitter.com/466sxdxUx5

— Barchart (@Barchart)

February 23, 2023

Crypto exchange Coinbase $COIN topped Q4 estimates Tuesday evening, but shares dropped more than 6% on Wednesday alongside a sizable pullback in crypto. @HeleneBraunn reportshttps://t.co/YCyqCLQcUG

— CoinDesk (@CoinDesk)

February 22, 2023

Company Information

Coinbase Global, Inc. is a financial technology company that provides end-to-end financial infrastructure and technology for the cryptoeconomy. The Company offers retail users the primary financial account for the crypto economy, institutions a marketplace with a liquidity for transacting in crypto assets, and ecosystem partners technology and services that enable them to build crypto-based applications and accept crypto assets as payment. The Company is engaged in building technology and financial infrastructure products and services that enable any person or business with an Internet connection to discover, transact, and engage with crypto assets and decentralized applications. It offers Coinbase Prime, a one-stop shop for institutions to participate in the cryptoeconomy. Its Coinbase Prime combines advanced trading, custody, real-time market data and analytics, and financing products to help customers access and transact in crypto markets.