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Is Coinbase Global (COIN) Stock Outpacing Its Finance Peers This Year?
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The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Coinbase Global, Inc. (COIN - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Coinbase Global, Inc. is a member of the Finance sector. This group includes 854 individual stocks and currently holds a Zacks Sector Rank of #12. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Coinbase Global, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for COIN's full-year earnings has moved 226.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, COIN has moved about 43.6% on a year-to-date basis. In comparison, Finance companies have returned an average of 3.3%. This means that Coinbase Global, Inc. is outperforming the sector as a whole this year.
Another stock in the Finance sector, BGC Group (BGC - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 12.9%.
Over the past three months, BGC Group's consensus EPS estimate for the current year has increased 1.1%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Coinbase Global, Inc. is a member of the Securities and Exchanges industry, which includes 8 individual companies and currently sits at #92 in the Zacks Industry Rank. On average, this group has gained an average of 6.2% so far this year, meaning that COIN is performing better in terms of year-to-date returns.
BGC Group, however, belongs to the Financial - Investment Bank industry. Currently, this 16-stock industry is ranked #12. The industry has moved +14.3% so far this year.
Going forward, investors interested in Finance stocks should continue to pay close attention to Coinbase Global, Inc. and BGC Group as they could maintain their solid performance.
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Is Coinbase Global (COIN) Stock Outpacing Its Finance Peers This Year?
The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Coinbase Global, Inc. (COIN - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Coinbase Global, Inc. is a member of the Finance sector. This group includes 854 individual stocks and currently holds a Zacks Sector Rank of #12. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Coinbase Global, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for COIN's full-year earnings has moved 226.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, COIN has moved about 43.6% on a year-to-date basis. In comparison, Finance companies have returned an average of 3.3%. This means that Coinbase Global, Inc. is outperforming the sector as a whole this year.
Another stock in the Finance sector, BGC Group (BGC - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 12.9%.
Over the past three months, BGC Group's consensus EPS estimate for the current year has increased 1.1%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Coinbase Global, Inc. is a member of the Securities and Exchanges industry, which includes 8 individual companies and currently sits at #92 in the Zacks Industry Rank. On average, this group has gained an average of 6.2% so far this year, meaning that COIN is performing better in terms of year-to-date returns.
BGC Group, however, belongs to the Financial - Investment Bank industry. Currently, this 16-stock industry is ranked #12. The industry has moved +14.3% so far this year.
Going forward, investors interested in Finance stocks should continue to pay close attention to Coinbase Global, Inc. and BGC Group as they could maintain their solid performance.