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Coinbase Global, Inc. (COIN) Gains As Market Dips: What You Should Know
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Coinbase Global, Inc. (COIN - Free Report) closed the most recent trading day at $53.42, moving +0.6% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.3%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.34%.
Coming into today, shares of the company had lost 3.47% in the past month. In that same time, the Finance sector lost 0.23%, while the S&P 500 gained 1.51%.
Investors will be hoping for strength from Coinbase Global, Inc. as it approaches its next earnings release. In that report, analysts expect Coinbase Global, Inc. to post earnings of -$3.04 per share. This would mark a year-over-year decline of 147.35%. Meanwhile, our latest consensus estimate is calling for revenue of $877.32 million, down 60.62% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$8.46 per share and revenue of $3.94 billion, which would represent changes of -158.34% and -49.73%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Coinbase Global, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 11.23% lower within the past month. Coinbase Global, Inc. is currently a Zacks Rank #3 (Hold).
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 210, which puts it in the bottom 17% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Coinbase Global, Inc. (COIN) Gains As Market Dips: What You Should Know
Coinbase Global, Inc. (COIN - Free Report) closed the most recent trading day at $53.42, moving +0.6% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.3%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.34%.
Coming into today, shares of the company had lost 3.47% in the past month. In that same time, the Finance sector lost 0.23%, while the S&P 500 gained 1.51%.
Investors will be hoping for strength from Coinbase Global, Inc. as it approaches its next earnings release. In that report, analysts expect Coinbase Global, Inc. to post earnings of -$3.04 per share. This would mark a year-over-year decline of 147.35%. Meanwhile, our latest consensus estimate is calling for revenue of $877.32 million, down 60.62% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$8.46 per share and revenue of $3.94 billion, which would represent changes of -158.34% and -49.73%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Coinbase Global, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 11.23% lower within the past month. Coinbase Global, Inc. is currently a Zacks Rank #3 (Hold).
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 210, which puts it in the bottom 17% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.