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Coinbase Global, Inc. (COIN) Gains But Lags Market: What You Should Know
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In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $122.69, marking a +0.11% move from the previous day. The stock lagged the S&P 500's daily gain of 2.48%. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the company had lost 37.7% over the past month, lagging the Finance sector's loss of 8.69% and the S&P 500's loss of 7.81% in that time.
Coinbase Global, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be May 10, 2022. On that day, Coinbase Global, Inc. is projected to report earnings of $0.72 per share, which would represent a year-over-year decline of 76.39%. Our most recent consensus estimate is calling for quarterly revenue of $1.73 billion, down 3.67% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.34 per share and revenue of $7.91 billion. These totals would mark changes of -76.97% and +0.85%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 32.75% lower within the past month. Coinbase Global, Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note Coinbase Global, Inc.'s current valuation metrics, including its Forward P/E ratio of 36.73. For comparison, its industry has an average Forward P/E of 21.93, 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 167, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow COIN in the coming trading sessions, be sure to utilize Zacks.com.
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Coinbase Global, Inc. (COIN) Gains But Lags Market: What You Should Know
In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $122.69, marking a +0.11% move from the previous day. The stock lagged the S&P 500's daily gain of 2.48%. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the company had lost 37.7% over the past month, lagging the Finance sector's loss of 8.69% and the S&P 500's loss of 7.81% in that time.
Coinbase Global, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be May 10, 2022. On that day, Coinbase Global, Inc. is projected to report earnings of $0.72 per share, which would represent a year-over-year decline of 76.39%. Our most recent consensus estimate is calling for quarterly revenue of $1.73 billion, down 3.67% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.34 per share and revenue of $7.91 billion. These totals would mark changes of -76.97% and +0.85%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 32.75% lower within the past month. Coinbase Global, Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note Coinbase Global, Inc.'s current valuation metrics, including its Forward P/E ratio of 36.73. For comparison, its industry has an average Forward P/E of 21.93, 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 167, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow COIN in the coming trading sessions, be sure to utilize Zacks.com.