Coinbase (COIN) stock forecast

Coinbase will trade under the ticker COIN on the Nasdaq US market. The IPO rate is set at $250. Coinbase is offering 261.3 million shares outstanding when it goes public on Wednesday (today) 04/14/2021, giving it a market capitalization of nearly $68 billion. This is a steep rise from the private fundraising undertaken by Coinbase in 2018. This fundraising valued Coinbase at around $8 billion. Clearly, valuations and the underlying value of Bitcoin have moved on since 2018.

Coinbase has made known in its listing documents with the SEC that, in private transactions between January and March during this year, shares in COIN were trading at an average of $343.58.

The latest results from Coinbase show just how tied the company’s revenues are to the underlying crypto leader Bitcoin. As BTC doubled in price during the first quarter of 2021 so Coinbase’s revenue has surged. COIN said revenue for Q1 2021 will likely be $1.8 billion versus $1.3 billion for the full year 2020.

Timelines:

At opening it was expecting to open at $250, due to high demand and willing of people to buy at a higher price it was open at $356, trading now at $375