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Coinbase Global, Inc. (COIN) Outpaces Stock Market Gains: What You Should Know
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Coinbase Global, Inc. (COIN - Free Report) closed the most recent trading day at $218.02, moving +1.58% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.55%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.63%.
The company's stock has dropped by 13.33% in the past month, falling short of the Finance sector's loss of 2.67% and the S&P 500's gain of 4.28%.
Analysts and investors alike will be keeping a close eye on the performance of Coinbase Global, Inc. in its upcoming earnings disclosure. On that day, Coinbase Global, Inc. is projected to report earnings of $1.10 per share, which would represent year-over-year growth of 361.9%. At the same time, our most recent consensus estimate is projecting a revenue of $1.47 billion, reflecting a 107.33% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.81 per share and a revenue of $5.97 billion, representing changes of +1740.54% and +92%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Coinbase Global, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.17% downward. Coinbase Global, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Coinbase Global, Inc. is holding a Forward P/E ratio of 31.54. This denotes a premium relative to the industry's average Forward P/E of 21.57.
The Securities and Exchanges industry is part of the Finance sector. With its current Zacks Industry Rank of 46, this industry ranks in the top 19% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Coinbase Global, Inc. (COIN) Outpaces Stock Market Gains: What You Should Know
Coinbase Global, Inc. (COIN - Free Report) closed the most recent trading day at $218.02, moving +1.58% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.55%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.63%.
The company's stock has dropped by 13.33% in the past month, falling short of the Finance sector's loss of 2.67% and the S&P 500's gain of 4.28%.
Analysts and investors alike will be keeping a close eye on the performance of Coinbase Global, Inc. in its upcoming earnings disclosure. On that day, Coinbase Global, Inc. is projected to report earnings of $1.10 per share, which would represent year-over-year growth of 361.9%. At the same time, our most recent consensus estimate is projecting a revenue of $1.47 billion, reflecting a 107.33% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.81 per share and a revenue of $5.97 billion, representing changes of +1740.54% and +92%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Coinbase Global, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.17% downward. Coinbase Global, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Coinbase Global, Inc. is holding a Forward P/E ratio of 31.54. This denotes a premium relative to the industry's average Forward P/E of 21.57.
The Securities and Exchanges industry is part of the Finance sector. With its current Zacks Industry Rank of 46, this industry ranks in the top 19% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.