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Coinbase Global, Inc. (COIN) Gains But Lags Market: What You Should Know
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Coinbase Global, Inc. (COIN - Free Report) closed the most recent trading day at $75.14, moving +0.21% from the previous trading session. This change lagged the S&P 500's 0.89% gain on the day. Elsewhere, the Dow gained 1.2%, while the tech-heavy Nasdaq lost 0.68%.
Heading into today, shares of the company had gained 15% over the past month, outpacing the Finance sector's loss of 11.27% and the S&P 500's loss of 3.9% in that time.
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 -$1.35 per share. This would mark year-over-year growth of 31.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $653.28 million, down 43.99% from the year-ago period.
COIN's full-year Zacks Consensus Estimates are calling for earnings of -$4.08 per share and revenue of $2.78 billion. These results would represent year-over-year changes of +65.51% and -13.09%, respectively.
Any recent changes to analyst estimates for Coinbase Global, Inc. should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 28.15% higher within the past month. Coinbase Global, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 56, putting it in the top 23% 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
Coinbase Global, Inc. (COIN - Free Report) closed the most recent trading day at $75.14, moving +0.21% from the previous trading session. This change lagged the S&P 500's 0.89% gain on the day. Elsewhere, the Dow gained 1.2%, while the tech-heavy Nasdaq lost 0.68%.
Heading into today, shares of the company had gained 15% over the past month, outpacing the Finance sector's loss of 11.27% and the S&P 500's loss of 3.9% in that time.
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 -$1.35 per share. This would mark year-over-year growth of 31.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $653.28 million, down 43.99% from the year-ago period.
COIN's full-year Zacks Consensus Estimates are calling for earnings of -$4.08 per share and revenue of $2.78 billion. These results would represent year-over-year changes of +65.51% and -13.09%, respectively.
Any recent changes to analyst estimates for Coinbase Global, Inc. should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 28.15% higher within the past month. Coinbase Global, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 56, putting it in the top 23% 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.