On May 17, 2023, reports surfaced about unusual options activity for Coinbase Glb (COIN). It seems that a large position was taken on COIN, which could be an indication that something significant is about to happen. Benzinga’s options scanner detected 16 uncommon options trades for COIN, which is quite unusual. Interestingly, the big-money traders who took these positions are split between 18% bullish and 81% bearish sentiments.
Further analysis revealed that out of the 16 special options trades, 9 are puts, totaling $357,248, and 7 are calls, totaling $263,195. These trades suggest that whales have been targeting a price range between $48.0 and $70.0 for COIN over the last three months. It is worth noting that looking at the volume and open interest of options contracts is a powerful tool for trading options, as it can provide insight into the liquidity and interest for a given strike price.
However, it is important to keep in mind that as of April 3, 2023, there was no available data regarding unusual options activity for COIN. It remains to be seen what will happen with COIN in the coming days and weeks, but the unusual options activity is certainly worth keeping an eye on.
Financial Health
Neutral
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COIN Stock Analysis: Market Cap, Earnings Growth, and Financial Ratios
On May 17, 2023, COIN stock opened at 57.37, slightly lower than its previous close of 57.91. The day’s range was between 57.32 and 60.61, with a volume of 260,094 shares traded. COIN’s market cap is $13.4B, and the company has reported an earnings growth of -182.78% last year and +75.38% this year. However, the earnings growth forecast for the next five years is -49.12%. COIN has a price-to-sales ratio of 2.46 and a price-to-book ratio of 2.43. The company’s next reporting date is on August 8, 2023, with an EPS forecast of -$0.77 for this quarter. The annual revenue for the company was $3.2B, with an annual profit of -$2.6B, resulting in a net profit margin of -82.18%. COIN operates in the finance sector, specifically in the investment banks/brokers industry.
Coinbase Global Inc (COIN) Stock Price Increases Slightly, Median Target Price at $63.00
On May 17, 2023, Coinbase Global Inc (COIN) saw a slight increase in its stock price, following the trend of the median estimate provided by the 24 analysts offering 12-month price forecasts. The median target price for COIN was $63.00, which represents a +4.18% increase from the last price of $60.47. The high estimate was $200.00, while the low estimate was $27.00, indicating a wide range of expectations among analysts.
