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Coinbase Global, Inc. (COIN) Surges 6.3%: Is This an Indication of Further Gains?
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Coinbase Global, Inc. (COIN - Free Report) shares rallied 6.3% in the last trading session to close at $82.07. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.6% gain over the past four weeks.
The company continues to benefit from higher subscription and services revenues, increased adoption of a greater number of crypto assets, higher volatility and a rise in interest across the entire crypto economy, improved product suite and declining expenses.
An increase in both the average crypto asset prices and total crypto spot market volumes will drive the overall trading volume of COIN. The company is also implementing the second phase of crypto adoption, that is, crypto as a technology. The company is making continued investments in technology through products like staking which are expected to increase customer engagement. COIN aims to drive utility in cryptocurrency beyond trading as customers are shifting to other use cases such as payments, savings etc.
The company is successfully delivering on its promises by bringing down operating expenses and achieving efficiency to do more with less. COIN expects transaction expenses to be in the mid-teens as a percentage of net revenues.
This company is expected to post quarterly loss of $0.53 per share in its upcoming report, which represents a year-over-year change of +78.2%. Revenues are expected to be $652.84 million, up 10.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Coinbase Global, Inc., the consensus EPS estimate for the quarter has been revised 8.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on COIN going forward to see if this recent jump can turn into more strength down the road.
Coinbase Global, Inc. is part of the Zacks Securities and Exchanges industry. CBOE Global (CBOE - Free Report) , another stock in the same industry, closed the last trading session 0.7% higher at $162.27. CBOE has returned 3.8% in the past month.
CBOE's consensus EPS estimate for the upcoming report has changed +2.1% over the past month to $1.84. Compared to the company's year-ago EPS, this represents a change of +5.8%. CBOE currently boasts a Zacks Rank of #2 (Buy).
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Coinbase Global, Inc. (COIN) Surges 6.3%: Is This an Indication of Further Gains?
Coinbase Global, Inc. (COIN - Free Report) shares rallied 6.3% in the last trading session to close at $82.07. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.6% gain over the past four weeks.
The company continues to benefit from higher subscription and services revenues, increased adoption of a greater number of crypto assets, higher volatility and a rise in interest across the entire crypto economy, improved product suite and declining expenses.
An increase in both the average crypto asset prices and total crypto spot market volumes will drive the overall trading volume of COIN. The company is also implementing the second phase of crypto adoption, that is, crypto as a technology. The company is making continued investments in technology through products like staking which are expected to increase customer engagement. COIN aims to drive utility in cryptocurrency beyond trading as customers are shifting to other use cases such as payments, savings etc.
The company is successfully delivering on its promises by bringing down operating expenses and achieving efficiency to do more with less. COIN expects transaction expenses to be in the mid-teens as a percentage of net revenues.
This company is expected to post quarterly loss of $0.53 per share in its upcoming report, which represents a year-over-year change of +78.2%. Revenues are expected to be $652.84 million, up 10.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Coinbase Global, Inc., the consensus EPS estimate for the quarter has been revised 8.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on COIN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Coinbase Global, Inc. is part of the Zacks Securities and Exchanges industry. CBOE Global (CBOE - Free Report) , another stock in the same industry, closed the last trading session 0.7% higher at $162.27. CBOE has returned 3.8% in the past month.
CBOE's consensus EPS estimate for the upcoming report has changed +2.1% over the past month to $1.84. Compared to the company's year-ago EPS, this represents a change of +5.8%. CBOE currently boasts a Zacks Rank of #2 (Buy).