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Coinbase Global, Inc. (COIN) Outpaces Stock Market Gains: What You Should Know
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Coinbase Global, Inc. (COIN - Free Report) closed the most recent trading day at $208.73, moving +1.45% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.84%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 0.1%.
Coming into today, shares of the company had lost 8.56% in the past month. In that same time, the Finance sector lost 2.04%, while the S&P 500 lost 4.03%.
Investors will be hoping for strength from Coinbase Global, Inc. as it approaches its next earnings release, which is expected to be February 24, 2022.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Coinbase Global, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Coinbase Global, Inc. is holding a Forward P/E ratio of 26.05. For comparison, its industry has an average Forward P/E of 24.4, which means Coinbase Global, Inc. is trading at a premium to the group.
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Coinbase Global, Inc. (COIN) Outpaces Stock Market Gains: What You Should Know
Coinbase Global, Inc. (COIN - Free Report) closed the most recent trading day at $208.73, moving +1.45% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.84%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 0.1%.
Coming into today, shares of the company had lost 8.56% in the past month. In that same time, the Finance sector lost 2.04%, while the S&P 500 lost 4.03%.
Investors will be hoping for strength from Coinbase Global, Inc. as it approaches its next earnings release, which is expected to be February 24, 2022.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Coinbase Global, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Coinbase Global, Inc. is holding a Forward P/E ratio of 26.05. For comparison, its industry has an average Forward P/E of 24.4, which means Coinbase Global, Inc. is trading at a premium to the group.
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.