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Coinbase Global, Inc. (COIN) Falls More Steeply Than Broader Market: What Investors Need to Know
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Coinbase Global, Inc. (COIN - Free Report) ended the recent trading session at $73.10, demonstrating a -1.12% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.85%. At the same time, the Dow lost 0.75%, and the tech-heavy Nasdaq lost 0.96%.
The company's stock has dropped by 3.57% in the past month, exceeding the Finance sector's loss of 4.96% and lagging the S&P 500's loss of 3.02%.
The investment community will be closely monitoring the performance of Coinbase Global, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on November 2, 2023. It is anticipated that the company will report an EPS of -$0.53, marking a 78.19% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $655.68 million, up 11.07% from the prior-year quarter.
COIN's full-year Zacks Consensus Estimates are calling for earnings of -$1.75 per share and revenue of $2.8 billion. These results would represent year-over-year changes of +85.21% and -12.35%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Coinbase Global, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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, there's been a 3.53% rise in the Zacks Consensus EPS estimate. At present, Coinbase Global, Inc. boasts a Zacks Rank of #2 (Buy).
The Securities and Exchanges industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 97, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Coinbase Global, Inc. (COIN) Falls More Steeply Than Broader Market: What Investors Need to Know
Coinbase Global, Inc. (COIN - Free Report) ended the recent trading session at $73.10, demonstrating a -1.12% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.85%. At the same time, the Dow lost 0.75%, and the tech-heavy Nasdaq lost 0.96%.
The company's stock has dropped by 3.57% in the past month, exceeding the Finance sector's loss of 4.96% and lagging the S&P 500's loss of 3.02%.
The investment community will be closely monitoring the performance of Coinbase Global, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on November 2, 2023. It is anticipated that the company will report an EPS of -$0.53, marking a 78.19% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $655.68 million, up 11.07% from the prior-year quarter.
COIN's full-year Zacks Consensus Estimates are calling for earnings of -$1.75 per share and revenue of $2.8 billion. These results would represent year-over-year changes of +85.21% and -12.35%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Coinbase Global, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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, there's been a 3.53% rise in the Zacks Consensus EPS estimate. At present, Coinbase Global, Inc. boasts a Zacks Rank of #2 (Buy).
The Securities and Exchanges industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 97, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.