Analysts who follow Coinbase Global Inc (COIN) on average expect it to increase 62.32% over the next twelve months. Those same analysts give the stock an average rating of Buy.
That average rating earns the stock an Analyst Ranking of 30, which means it ranks higher than 30 of stocks, based on data compiled by InvestorsObserver.
Why are Analyst Ratings Important?
A company’s financial statements are a significant factor weighted by experts when analyzing a company’s health. Beyond just the numbers, analysts follow specific industries closely and are able to gain a detailed understanding of how a storm in one part of the world can shutdown supply chains leading to a change in consumption across the globe. This knowledge allows investors to respond to potential changes in the market before they are revealed in a quarterly annoucement.
InvestorsObserver averages the ratings across all these analysts and percentile ranks those averages. This allows you to compare stocks in greater detail than the usual five-tiered system used amongst the majority of investors.
What’s Happening With Coinbase Global Inc Stock Today?
Coinbase Global Inc (COIN) stock is trading at $74.22 as of 1:23 PM on Friday, Sep 16, a drop of -$3.01, or -3.9% from the previous closing price of $77.23. The stock has traded between $73.60 and $76.37 so far today. Volume today is light. So far 5,273,324 shares have traded compared to average volume of 12,054,717 shares.
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