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Coinbase Global, Inc. (COIN) Stock Moves -0.78%: What You Should Know
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Coinbase Global, Inc. (COIN - Free Report) ended the recent trading session at $249.61, demonstrating a -0.78% swing from the preceding day's closing price. This change was narrower than the S&P 500's daily loss of 1.23%. Meanwhile, the Dow experienced a drop of 1.36%, and the technology-dominated Nasdaq saw a decrease of 1.4%.
The company's shares have seen an increase of 5.46% over the last month, surpassing the Finance sector's gain of 2.76% and the S&P 500's gain of 1.61%.
The investment community will be paying close attention to the earnings performance of Coinbase Global, Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.60, reflecting a 300% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.14 billion, indicating a 47.5% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.80 per share and revenue of $4.43 billion, which would represent changes of +386.49% and +42.45%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Coinbase Global, Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate has moved 79.48% higher within the past month. Coinbase Global, Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
From a valuation perspective, Coinbase Global, Inc. is currently exchanging hands at a Forward P/E ratio of 139.48. This indicates a premium in contrast to its industry's Forward P/E of 22.28.
The Securities and Exchanges industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 26% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Coinbase Global, Inc. (COIN) Stock Moves -0.78%: What You Should Know
Coinbase Global, Inc. (COIN - Free Report) ended the recent trading session at $249.61, demonstrating a -0.78% swing from the preceding day's closing price. This change was narrower than the S&P 500's daily loss of 1.23%. Meanwhile, the Dow experienced a drop of 1.36%, and the technology-dominated Nasdaq saw a decrease of 1.4%.
The company's shares have seen an increase of 5.46% over the last month, surpassing the Finance sector's gain of 2.76% and the S&P 500's gain of 1.61%.
The investment community will be paying close attention to the earnings performance of Coinbase Global, Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.60, reflecting a 300% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.14 billion, indicating a 47.5% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.80 per share and revenue of $4.43 billion, which would represent changes of +386.49% and +42.45%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Coinbase Global, Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate has moved 79.48% higher within the past month. Coinbase Global, Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
From a valuation perspective, Coinbase Global, Inc. is currently exchanging hands at a Forward P/E ratio of 139.48. This indicates a premium in contrast to its industry's Forward P/E of 22.28.
The Securities and Exchanges industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 26% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.