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Coinbase Global, Inc. (COIN) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $121.01, marking a -0.27% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.53%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 0.19%.
Prior to today's trading, shares of the company had lost 34.5% over the past month. This has lagged the Finance sector's loss of 2.41% and the S&P 500's gain of 2.48% in that time.
Market participants will be closely following the financial results of Coinbase Global, Inc. in its upcoming release. The company plans to announce its earnings on February 15, 2024. In that report, analysts expect Coinbase Global, Inc. to post earnings of -$0.12 per share. This would mark year-over-year growth of 95.12%. Meanwhile, our latest consensus estimate is calling for revenue of $710.83 million, up 12.99% from the prior-year quarter.
Any recent changes to analyst estimates for Coinbase Global, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 13.07% increase. Coinbase Global, Inc. is currently a Zacks Rank #2 (Buy).
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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 Sinks As Market Gains: What You Should Know
In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $121.01, marking a -0.27% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.53%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 0.19%.
Prior to today's trading, shares of the company had lost 34.5% over the past month. This has lagged the Finance sector's loss of 2.41% and the S&P 500's gain of 2.48% in that time.
Market participants will be closely following the financial results of Coinbase Global, Inc. in its upcoming release. The company plans to announce its earnings on February 15, 2024. In that report, analysts expect Coinbase Global, Inc. to post earnings of -$0.12 per share. This would mark year-over-year growth of 95.12%. Meanwhile, our latest consensus estimate is calling for revenue of $710.83 million, up 12.99% from the prior-year quarter.
Any recent changes to analyst estimates for Coinbase Global, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 13.07% increase. Coinbase Global, Inc. is currently a Zacks Rank #2 (Buy).
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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.