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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 $204.53, moving +1.55% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.44%.
Heading into today, shares of the company had gained 5.58% over the past month, outpacing the Finance sector's gain of 2.9% and the S&P 500's gain of 4.69% in that time.
Investors will be hoping for strength from Coinbase Global, Inc. as it approaches its next earnings release. The company is expected to report EPS of $1.03, down 66.23% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.81 billion, up 0.28% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.96 per share and revenue of $8.58 billion, which would represent changes of -65.79% and +9.46%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Coinbase Global, Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.96% lower within the past month. Coinbase Global, Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Coinbase Global, Inc. currently has a Forward P/E ratio of 40.59. This valuation marks a premium compared to its industry's average Forward P/E of 25.25.
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 113, which puts it in the top 45% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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 $204.53, moving +1.55% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.44%.
Heading into today, shares of the company had gained 5.58% over the past month, outpacing the Finance sector's gain of 2.9% and the S&P 500's gain of 4.69% in that time.
Investors will be hoping for strength from Coinbase Global, Inc. as it approaches its next earnings release. The company is expected to report EPS of $1.03, down 66.23% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.81 billion, up 0.28% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.96 per share and revenue of $8.58 billion, which would represent changes of -65.79% and +9.46%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Coinbase Global, Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.96% lower within the past month. Coinbase Global, Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Coinbase Global, Inc. currently has a Forward P/E ratio of 40.59. This valuation marks a premium compared to its industry's average Forward P/E of 25.25.
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 113, which puts it in the top 45% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.