Back to top

Image: Bigstock

Coinbase Global, Inc. (COIN) Stock Sinks As Market Gains: What You Should Know

Read MoreHide Full Article

In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $33.26, marking a -0.81% move from the previous day. This change lagged the S&P 500's daily gain of 2.28%. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.

Heading into today, shares of the company had lost 21.68% over the past month, lagging the Finance sector's loss of 1.02% and the S&P 500's loss of 4.61% in that time.

Wall Street will be looking for positivity from Coinbase Global, Inc. as it approaches its next earnings report date. The company is expected to report EPS of -$2.06, down 162.05% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $613.87 million, down 75.43% from the prior-year quarter.

Any recent changes to analyst estimates for Coinbase Global, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.26% lower. Coinbase Global, Inc. is holding a Zacks Rank of #4 (Sell) right now.

The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Coinbase Global, Inc. (COIN) - free report >>

Published in