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Coinbase Global, Inc. (COIN) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest market close, Coinbase Global, Inc. (COIN - Free Report) reached $153.98, with a -1.04% movement compared to the previous day. This change lagged the S&P 500's 0.18% gain on the day. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.1%.
The company's stock has climbed by 14.25% in the past month, exceeding the Finance sector's gain of 4.37% and the S&P 500's gain of 2.75%.
Market participants will be closely following the financial results of Coinbase Global, Inc. in its upcoming release. On that day, Coinbase Global, Inc. is projected to report earnings of -$0.19 per share, which would represent year-over-year growth of 92.28%. Alongside, our most recent consensus estimate is anticipating revenue of $700.96 million, indicating a 11.42% upward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Coinbase Global, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 5.04% higher. Currently, Coinbase Global, Inc. is carrying a Zacks Rank of #2 (Buy).
The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Coinbase Global, Inc. (COIN) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest market close, Coinbase Global, Inc. (COIN - Free Report) reached $153.98, with a -1.04% movement compared to the previous day. This change lagged the S&P 500's 0.18% gain on the day. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.1%.
The company's stock has climbed by 14.25% in the past month, exceeding the Finance sector's gain of 4.37% and the S&P 500's gain of 2.75%.
Market participants will be closely following the financial results of Coinbase Global, Inc. in its upcoming release. On that day, Coinbase Global, Inc. is projected to report earnings of -$0.19 per share, which would represent year-over-year growth of 92.28%. Alongside, our most recent consensus estimate is anticipating revenue of $700.96 million, indicating a 11.42% upward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Coinbase Global, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 5.04% higher. Currently, Coinbase Global, Inc. is carrying a Zacks Rank of #2 (Buy).
The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.