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Coinbase Global, Inc. (COIN) Gains As Market Dips: What You Should Know
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Coinbase Global, Inc. (COIN - Free Report) closed at $55.55 in the latest trading session, marking a +1.46% move from the prior day. This move outpaced the S&P 500's daily loss of 1.58%. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 11.95%.
Heading into today, shares of the company had lost 12.46% over the past month, lagging the Finance sector's gain of 5.5% and the S&P 500's gain of 4.27% in that time.
Investors will be hoping for strength from Coinbase Global, Inc. as it approaches its next earnings release, which is expected to be May 4, 2023. On that day, Coinbase Global, Inc. is projected to report earnings of -$1.36 per share, which would represent year-over-year growth of 31.31%. Our most recent consensus estimate is calling for quarterly revenue of $649.44 million, down 44.32% from the year-ago period.
COIN's full-year Zacks Consensus Estimates are calling for earnings of -$4.06 per share and revenue of $2.76 billion. These results would represent year-over-year changes of +65.68% and -13.6%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.32% higher within the past month. Coinbase Global, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 12, which puts it in the top 5% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Coinbase Global, Inc. (COIN) Gains As Market Dips: What You Should Know
Coinbase Global, Inc. (COIN - Free Report) closed at $55.55 in the latest trading session, marking a +1.46% move from the prior day. This move outpaced the S&P 500's daily loss of 1.58%. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 11.95%.
Heading into today, shares of the company had lost 12.46% over the past month, lagging the Finance sector's gain of 5.5% and the S&P 500's gain of 4.27% in that time.
Investors will be hoping for strength from Coinbase Global, Inc. as it approaches its next earnings release, which is expected to be May 4, 2023. On that day, Coinbase Global, Inc. is projected to report earnings of -$1.36 per share, which would represent year-over-year growth of 31.31%. Our most recent consensus estimate is calling for quarterly revenue of $649.44 million, down 44.32% from the year-ago period.
COIN's full-year Zacks Consensus Estimates are calling for earnings of -$4.06 per share and revenue of $2.76 billion. These results would represent year-over-year changes of +65.68% and -13.6%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.32% higher within the past month. Coinbase Global, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 12, which puts it in the top 5% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.