Cantor Fitzgerald Has Lowered Expectations for Coincheck Group (NASDAQ:CNCK) Stock Price

Coincheck Group (NASDAQ:CNCK) had its target price cut by Cantor Fitzgerald from $2.50 to $1.80 in a research note issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Cantor Fitzgerald‘s price objective suggests a potential upside of 62.16% from the company’s previous close.

Several other research analysts have also weighed in on the stock. Zacks Research raised shares of Coincheck Group from a “strong sell” rating to a “hold” rating in a report on Thursday, July 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Coincheck Group in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Coincheck Group has an average rating of “Hold” and a consensus price target of $3.40.

Coincheck Group Stock Performance

Coincheck Group stock opened at $1.11 on Thursday. Coincheck Group has a 52 week low of $1.11 and a 52 week high of $9.31. The stock has a market cap of $180.91 million, a P/E ratio of -18.50 and a beta of 0.54. The stock has a 50 day moving average of $1.51 and a 200-day moving average of $1.99.

Coincheck Group (NASDAQ:CNCK) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). The business had revenue of $717.43 million during the quarter, compared to analyst estimates of $693.43 million. Coincheck Group had a negative net margin of 1.35% and a negative return on equity of 25.64%. As a group, equities analysts predict that Coincheck Group will post -0.13 earnings per share for the current fiscal year.

About Coincheck Group

Coincheck Group N.V. is a holding company whose principal operating business is Coincheck, Inc., a Japan-based digital asset exchange. Its platform enables customers to buy, sell and trade cryptocurrencies. Coincheck also offers services related to digital assets, including an NFT marketplace. The business primarily serves customers in Japan. Coincheck was founded in 2012 and became part of Monex Group in 2018. Coincheck Group began trading on Nasdaq in 2024 following a business combination with Thunder Bridge Capital Partners IV.