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Coinbase Global, Inc. (COIN) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $73.81, marking a -1.65% move from the previous day. This change lagged the S&P 500's 0.74% loss on the day. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 0.01%.
Heading into today, shares of the company had gained 19.03% over the past month, outpacing the Finance sector's gain of 3.51% and the S&P 500's gain of 4.58% in that time.
Coinbase Global, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. The company is expected to report EPS of -$2.23, down 237.65% from the prior-year quarter. 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.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.25% lower. Coinbase Global, Inc. is currently a Zacks Rank #3 (Hold).
The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $73.81, marking a -1.65% move from the previous day. This change lagged the S&P 500's 0.74% loss on the day. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 0.01%.
Heading into today, shares of the company had gained 19.03% over the past month, outpacing the Finance sector's gain of 3.51% and the S&P 500's gain of 4.58% in that time.
Coinbase Global, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. The company is expected to report EPS of -$2.23, down 237.65% from the prior-year quarter. 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.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.25% lower. Coinbase Global, Inc. is currently a Zacks Rank #3 (Hold).
The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.