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Coinbase Global, Inc. (COIN) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $237.50, marking a -1.8% move from the previous day. This change lagged the S&P 500's 1.21% gain on the day.
Heading into today, shares of the company had lost 5.81% over the past month, lagging the Finance sector's loss of 1.07% and the S&P 500's loss of 0.9% in that time.
Wall Street will be looking for positivity from COIN as it approaches its next earnings report date.
It is also important to note the recent changes to analyst estimates for COIN. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. COIN is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, COIN is currently trading at a Forward P/E ratio of 17.13. Its industry sports an average Forward P/E of 23.21, so we one might conclude that COIN is trading at a discount comparatively.
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow COIN in the coming trading sessions, be sure to utilize Zacks.com.
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Coinbase Global, Inc. (COIN) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $237.50, marking a -1.8% move from the previous day. This change lagged the S&P 500's 1.21% gain on the day.
Heading into today, shares of the company had lost 5.81% over the past month, lagging the Finance sector's loss of 1.07% and the S&P 500's loss of 0.9% in that time.
Wall Street will be looking for positivity from COIN as it approaches its next earnings report date.
It is also important to note the recent changes to analyst estimates for COIN. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. COIN is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, COIN is currently trading at a Forward P/E ratio of 17.13. Its industry sports an average Forward P/E of 23.21, so we one might conclude that COIN is trading at a discount comparatively.
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow COIN in the coming trading sessions, be sure to utilize Zacks.com.