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Coinbase Global, Inc. (COIN) Outpaces Stock Market Gains: What You Should Know
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Coinbase Global, Inc. (COIN - Free Report) closed at $68.95 in the latest trading session, marking a +1.64% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.33%. At the same time, the Dow added 1.14%, and the tech-heavy Nasdaq gained 2.94%.
Heading into today, shares of the company had gained 5.23% over the past month, outpacing the Finance sector's gain of 0.75% and lagging the S&P 500's gain of 6.11% in that time.
Wall Street will be looking for positivity from Coinbase Global, Inc. as it approaches its next earnings report date. On that day, Coinbase Global, Inc. is projected to report earnings of -$1.36 per share, which would represent year-over-year growth of 31.31%. Meanwhile, our latest consensus estimate is calling for revenue of $649.44 million, down 44.32% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$4.06 per share and revenue of $2.76 billion. These totals would mark changes of +65.68% and -13.6%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Coinbase Global, Inc.These revisions help to show the ever-changing nature of 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.
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 0.32% higher. Coinbase Global, Inc. currently has a Zacks Rank of #2 (Buy).
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Coinbase Global, Inc. (COIN) Outpaces Stock Market Gains: What You Should Know
Coinbase Global, Inc. (COIN - Free Report) closed at $68.95 in the latest trading session, marking a +1.64% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.33%. At the same time, the Dow added 1.14%, and the tech-heavy Nasdaq gained 2.94%.
Heading into today, shares of the company had gained 5.23% over the past month, outpacing the Finance sector's gain of 0.75% and lagging the S&P 500's gain of 6.11% in that time.
Wall Street will be looking for positivity from Coinbase Global, Inc. as it approaches its next earnings report date. On that day, Coinbase Global, Inc. is projected to report earnings of -$1.36 per share, which would represent year-over-year growth of 31.31%. Meanwhile, our latest consensus estimate is calling for revenue of $649.44 million, down 44.32% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$4.06 per share and revenue of $2.76 billion. These totals would mark changes of +65.68% and -13.6%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Coinbase Global, Inc.These revisions help to show the ever-changing nature of 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.
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 0.32% higher. Coinbase Global, Inc. currently has a Zacks Rank of #2 (Buy).
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.