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Why Coinbase Global, Inc. (COIN) Outpaced the Stock Market Today
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Coinbase Global, Inc. (COIN - Free Report) closed the latest trading day at $73.47, indicating a +1.37% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 0.81%. Meanwhile, the Dow experienced a rise of 0.39%, and the technology-dominated Nasdaq saw an increase of 1.35%.
The the stock of company has fallen by 6.48% in the past month, lagging the Finance sector's loss of 6.45% and the S&P 500's loss of 6.19%.
Investors will be eagerly watching for the performance of Coinbase Global, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.50, indicating a 79.42% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $667.21 million, reflecting a 13.02% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.80 per share and a revenue of $2.83 billion, indicating changes of +84.78% and -11.44%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Coinbase Global, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Coinbase Global, Inc. currently has a Zacks Rank of #3 (Hold).
The Securities and Exchanges industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 193, finds itself in the bottom 24% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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Why Coinbase Global, Inc. (COIN) Outpaced the Stock Market Today
Coinbase Global, Inc. (COIN - Free Report) closed the latest trading day at $73.47, indicating a +1.37% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 0.81%. Meanwhile, the Dow experienced a rise of 0.39%, and the technology-dominated Nasdaq saw an increase of 1.35%.
The the stock of company has fallen by 6.48% in the past month, lagging the Finance sector's loss of 6.45% and the S&P 500's loss of 6.19%.
Investors will be eagerly watching for the performance of Coinbase Global, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.50, indicating a 79.42% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $667.21 million, reflecting a 13.02% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.80 per share and a revenue of $2.83 billion, indicating changes of +84.78% and -11.44%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Coinbase Global, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Coinbase Global, Inc. currently has a Zacks Rank of #3 (Hold).
The Securities and Exchanges industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 193, finds itself in the bottom 24% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.