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Coinbase Global, Inc. (COIN) Gains But Lags Market: What You Should Know
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Coinbase Global, Inc. (COIN - Free Report) closed the most recent trading day at $54.25, moving +0.65% from the previous trading session. This change lagged the S&P 500's 1.22% gain on the day. Elsewhere, the Dow gained 1.26%, while the tech-heavy Nasdaq added 4.63%.
Prior to today's trading, shares of the company had lost 11.7% over the past month. This has lagged the Finance sector's gain of 5.82% and the S&P 500's gain of 6.22% in that time.
Coinbase Global, Inc. will be looking to display strength as it nears its next earnings release. On that day, Coinbase Global, Inc. is projected to report earnings of -$0.82 per share, which would represent year-over-year growth of 83.43%. Our most recent consensus estimate is calling for quarterly revenue of $661.22 million, down 18.2% from the year-ago period.
COIN's full-year Zacks Consensus Estimates are calling for earnings of -$2.14 per share and revenue of $2.85 billion. These results would represent year-over-year changes of +81.91% and -10.79%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Coinbase Global, Inc. is currently sporting 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 116, which puts it in the top 47% 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) Gains But Lags Market: What You Should Know
Coinbase Global, Inc. (COIN - Free Report) closed the most recent trading day at $54.25, moving +0.65% from the previous trading session. This change lagged the S&P 500's 1.22% gain on the day. Elsewhere, the Dow gained 1.26%, while the tech-heavy Nasdaq added 4.63%.
Prior to today's trading, shares of the company had lost 11.7% over the past month. This has lagged the Finance sector's gain of 5.82% and the S&P 500's gain of 6.22% in that time.
Coinbase Global, Inc. will be looking to display strength as it nears its next earnings release. On that day, Coinbase Global, Inc. is projected to report earnings of -$0.82 per share, which would represent year-over-year growth of 83.43%. Our most recent consensus estimate is calling for quarterly revenue of $661.22 million, down 18.2% from the year-ago period.
COIN's full-year Zacks Consensus Estimates are calling for earnings of -$2.14 per share and revenue of $2.85 billion. These results would represent year-over-year changes of +81.91% and -10.79%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Coinbase Global, Inc. is currently sporting 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 116, which puts it in the top 47% 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.