Coinbase, is its stock being bought? With Bitcoin reaching 57 thousand dollars!

Occupy company Coinbase Global (COIN), the center stage in the cryptocurrency industry, after the rise in popularity of these currencies, especially Bitcoin And Ethereum.

After the company promoted the public offering, does the company consider a purchase or sale deal, in the current stock market rise?!

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The company, which is the crypto giant, has launched its direct listing on the index NASDAQ in a 14 April, price 250 an arrow.

The common stock rose from approx 72% to me 429.54%, before the close of the first day of trading at 328.28, increase 31.3%، to evaluate 87.3 one billion dollar.

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Analysts expect the Internet protocol to give Coinbase  Further verification of the cryptocurrency market, the analyst wrote Dan Ifes And Ives On a note to clients:

“Potential to go public with a company Coinbase That would be a watershed for the cryptocurrency industry, and it would be something the street lasers would focus on to gauge investor appetite.

The common base is an essential piece of the crypto ecosystem, and a measure of the growing adoption of mainstream Bitcoin and cryptocurrencies for the coming years.

How to earn a company Queen Piece the money?

The company is the largest cryptocurrency exchange in the United States, offering around 50 Cryptocurrency for trading, led by Bitcoin And Ethereum.

Prepare Bitcoin The largest digital currency by market capitalization, also increased by 2% Only this year, after its sharp decline in recent months.

while multiplied Ethereum More than doubled in a year 2021, according to  Coindesk.

The company charges a fee of several percentage points for depositing funds and trading, which is one of the main ways the company makes money.

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Where came approx 90% From the company's revenue as of the year 2020, from transaction fees from trade and services, such as storage.

Fundamental stock analysis: huge profits and sales growth

Before its debut, the company released forecasts in 6 April, for the first quarter ending in 31 March, forecast for the full year ending in 31 December 2021.

The company expected that verified users of 56 million with assets 223 one billion dollars on the platform, representing a share 11.3% From the crypto asset market.

The company has reported in 12 May reported first-quarter results that slightly missed estimates, and showed total revenue 1.801 billion dollars on EPS from 3.05 dollars.

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As predicted by the newspaper Wall Street WallStreet to win the company 3.07 dollars for 1.81 billion dollars, and profits increased by 2.350%, while sales rose to 845% compared to the previous year.

The company also reported its results for the second quarter in 10 August, where I achieved 6.42 $ share of sales amounted to 2.22 one billion dollars, but warned that its trading volume will be lower in the third quarter, than in the second quarter.

Technical analysis of the company's stock

The company's stock is trading at about 40% From its post-IPO highs, stocks are no longer the base of the IPO due to recent weakness.

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A new rule is expected to be formed, which will provide the first point of purchase of shares, according to an examination of shares IBD, arrows appear Queen Piece 68 moderate out 99 from the composite classification IBD ideal.

The composite rating helps investors easily measure the fundamental and technical metrics of stocks, and is considered weak ratings IBD The vehicle, which is normal in new versions.

Company stock news

The analyzer started  Dan Dolev from Table Mizuho, coverage of the stock in 22 April, with a neutral rating and a price target 285, where he commented:

“Over time, combined pricing, and industry pricing in general, may face downward pressure from platforms like  PayPal And I wish water CashApp.

This is because these two apps use their own crypto trading products, primarily as sharing tools, while a company Coin Base on its crypto trading products, as a major source of revenue and profitability.”

as I started Goldman Sachs coverage in 24 May with buy rating and price target 306.

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The analyst said in Goldman Sachs In a note to clients, the database is the best way to gain exposure to cryptocurrency ecosystems.

then started JPMorgan cover on company Queen Piece in a 25 May, with an increase rating in value and price target 371. In response, the company's shares rose by 7.6%.

Also started a company Canaccord Genuity stock in 16 June with a buy rating and a price target 285, Coin Base in a 7 September that she received a notice Wales From the Securities and Exchange Commission last week.

The regulator says it intends to sue the company, over the company's programme Coinbase Lend.

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China's central bank imposed strict measures on cryptocurrencies in the country 24 In September, saying that all cryptocurrency transactions are illegal, the People's Bank of China stated on its website that:

“Financial institutions and non-bank payment institutions cannot provide services for activities and operations related to virtual currencies.”

Are shares being bought? Queen Bays right Now?

The arrow has lost more than 3% On Tuesday, the company announced in the middle of that day a market  Coinbase NFT, which is a market Peer-tp-peer Allows users to collect and trade non-fungible tokens NFTs.

The price was traded Bitcoin about 57 thousand dollars on Tuesday, according to for Coin disk. At the moment, the stock is not a buy, because it is not at the new purchase point of the shares, where it is trading more than 40% Its highest price ever.

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