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Are Finance Stocks Lagging Coinbase Global (COIN) This Year?
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For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Coinbase Global, Inc. (COIN - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Coinbase Global, Inc. is one of 862 individual stocks in the Finance sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for COIN's full-year earnings has moved 105.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that COIN has returned about 39.6% since the start of the calendar year. At the same time, Finance stocks have gained an average of 12.5%. As we can see, Coinbase Global, Inc. is performing better than its sector in the calendar year.
Another stock in the Finance sector, StepStone Group Inc. (STEP - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 47.6%.
For StepStone Group Inc. the consensus EPS estimate for the current year has increased 5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Coinbase Global, Inc. belongs to the Securities and Exchanges industry, a group that includes 8 individual stocks and currently sits at #50 in the Zacks Industry Rank. On average, stocks in this group have gained 9.9% this year, meaning that COIN is performing better in terms of year-to-date returns.
In contrast, StepStone Group Inc. falls under the Financial - Miscellaneous Services industry. Currently, this industry has 77 stocks and is ranked #156. Since the beginning of the year, the industry has moved +4.4%.
Investors interested in the Finance sector may want to keep a close eye on Coinbase Global, Inc. and StepStone Group Inc. as they attempt to continue their solid performance.
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Are Finance Stocks Lagging Coinbase Global (COIN) This Year?
For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Coinbase Global, Inc. (COIN - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Coinbase Global, Inc. is one of 862 individual stocks in the Finance sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for COIN's full-year earnings has moved 105.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that COIN has returned about 39.6% since the start of the calendar year. At the same time, Finance stocks have gained an average of 12.5%. As we can see, Coinbase Global, Inc. is performing better than its sector in the calendar year.
Another stock in the Finance sector, StepStone Group Inc. (STEP - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 47.6%.
For StepStone Group Inc. the consensus EPS estimate for the current year has increased 5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Coinbase Global, Inc. belongs to the Securities and Exchanges industry, a group that includes 8 individual stocks and currently sits at #50 in the Zacks Industry Rank. On average, stocks in this group have gained 9.9% this year, meaning that COIN is performing better in terms of year-to-date returns.
In contrast, StepStone Group Inc. falls under the Financial - Miscellaneous Services industry. Currently, this industry has 77 stocks and is ranked #156. Since the beginning of the year, the industry has moved +4.4%.
Investors interested in the Finance sector may want to keep a close eye on Coinbase Global, Inc. and StepStone Group Inc. as they attempt to continue their solid performance.