Coinbase Global, Inc. (COIN - Free Report) closed at $35.39 in the latest trading session, marking a +1.75% move from the prior day. This move outpaced the S&P 500's daily loss of 0.25%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 5.91%.
Heading into today, shares of the company had lost 23.17% over the past month, lagging the Finance sector's loss of 2.43% and the S&P 500's loss of 2.59% in that time.
Coinbase Global, Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$2.06, down 162.05% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $613.87 million, down 75.43% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$11.41 per share and revenue of $3.18 billion. These totals would mark changes of -178.69% and -59.45%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Coinbase Global, Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. Coinbase Global, Inc. currently has a Zacks Rank of #3 (Hold).
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 20% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
Coinbase Global, Inc. (COIN - Free Report) closed at $35.39 in the latest trading session, marking a +1.75% move from the prior day. This move outpaced the S&P 500's daily loss of 0.25%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 5.91%.
Heading into today, shares of the company had lost 23.17% over the past month, lagging the Finance sector's loss of 2.43% and the S&P 500's loss of 2.59% in that time.
Coinbase Global, Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$2.06, down 162.05% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $613.87 million, down 75.43% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$11.41 per share and revenue of $3.18 billion. These totals would mark changes of -178.69% and -59.45%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Coinbase Global, Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. Coinbase Global, Inc. currently has a Zacks Rank of #3 (Hold).
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 20% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
Get the latest research report on COIN - FREE