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Coinbase Global, Inc. (COIN) Stock Moves -0.3%: What You Should Know
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Coinbase Global, Inc. (COIN - Free Report) closed the most recent trading day at $69.95, moving -0.3% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.33%. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq lost 0.22%.
Heading into today, shares of the company had lost 6.76% over the past month, outpacing the Finance sector's loss of 11.3% and the S&P 500's loss of 11.67% in that time.
Investors will be hoping for strength from Coinbase Global, Inc. as it approaches its next earnings release, which is expected to be November 3, 2022. On that day, Coinbase Global, Inc. is projected to report earnings of -$2.23 per share, which would represent a year-over-year decline of 237.65%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $642.76 million, down 51.01% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$11.15 per share and revenue of $3.34 billion, which would represent changes of -176.9% and -57.36%, respectively, from the prior year.
Any recent changes to analyst estimates for Coinbase Global, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.18% lower. Coinbase Global, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 18, putting it in the top 8% 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.
To follow COIN in the coming trading sessions, be sure to utilize Zacks.com.
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Coinbase Global, Inc. (COIN) Stock Moves -0.3%: What You Should Know
Coinbase Global, Inc. (COIN - Free Report) closed the most recent trading day at $69.95, moving -0.3% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.33%. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq lost 0.22%.
Heading into today, shares of the company had lost 6.76% over the past month, outpacing the Finance sector's loss of 11.3% and the S&P 500's loss of 11.67% in that time.
Investors will be hoping for strength from Coinbase Global, Inc. as it approaches its next earnings release, which is expected to be November 3, 2022. On that day, Coinbase Global, Inc. is projected to report earnings of -$2.23 per share, which would represent a year-over-year decline of 237.65%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $642.76 million, down 51.01% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$11.15 per share and revenue of $3.34 billion, which would represent changes of -176.9% and -57.36%, respectively, from the prior year.
Any recent changes to analyst estimates for Coinbase Global, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.18% lower. Coinbase Global, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 18, putting it in the top 8% 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.
To follow COIN in the coming trading sessions, be sure to utilize Zacks.com.