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Are Finance Stocks Lagging Coinbase Global (COIN) This Year?
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For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Coinbase Global, Inc. (COIN - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.
Coinbase Global, Inc. is a member of our Finance group, which includes 874 different companies and currently sits at #16 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Coinbase Global, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for COIN's full-year earnings has moved 28.2% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, COIN has gained about 91.4% so far this year. At the same time, Finance stocks have gained an average of 1.7%. This means that Coinbase Global, Inc. is outperforming the sector as a whole this year.
One other Finance stock that has outperformed the sector so far this year is Kinsale Capital Group, Inc. (KNSL - Free Report) . The stock is up 21.4% year-to-date.
For Kinsale Capital Group, Inc. the consensus EPS estimate for the current year has increased 10.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Coinbase Global, Inc. belongs to the Securities and Exchanges industry, a group that includes 8 individual stocks and currently sits at #22 in the Zacks Industry Rank. This group has gained an average of 11.6% so far this year, so COIN is performing better in this area.
In contrast, Kinsale Capital Group, Inc. falls under the Insurance - Property and Casualty industry. Currently, this industry has 42 stocks and is ranked #95. Since the beginning of the year, the industry has moved +2.9%.
Going forward, investors interested in Finance stocks should continue to pay close attention to Coinbase Global, Inc. and Kinsale Capital Group, Inc. as they could maintain their solid performance.
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Are Finance Stocks Lagging Coinbase Global (COIN) This Year?
For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Coinbase Global, Inc. (COIN - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.
Coinbase Global, Inc. is a member of our Finance group, which includes 874 different companies and currently sits at #16 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Coinbase Global, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for COIN's full-year earnings has moved 28.2% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, COIN has gained about 91.4% so far this year. At the same time, Finance stocks have gained an average of 1.7%. This means that Coinbase Global, Inc. is outperforming the sector as a whole this year.
One other Finance stock that has outperformed the sector so far this year is Kinsale Capital Group, Inc. (KNSL - Free Report) . The stock is up 21.4% year-to-date.
For Kinsale Capital Group, Inc. the consensus EPS estimate for the current year has increased 10.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Coinbase Global, Inc. belongs to the Securities and Exchanges industry, a group that includes 8 individual stocks and currently sits at #22 in the Zacks Industry Rank. This group has gained an average of 11.6% so far this year, so COIN is performing better in this area.
In contrast, Kinsale Capital Group, Inc. falls under the Insurance - Property and Casualty industry. Currently, this industry has 42 stocks and is ranked #95. Since the beginning of the year, the industry has moved +2.9%.
Going forward, investors interested in Finance stocks should continue to pay close attention to Coinbase Global, Inc. and Kinsale Capital Group, Inc. as they could maintain their solid performance.