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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 the most recent trading day at $61.94, moving +0.76% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 3.58%.
Prior to today's trading, shares of the company had gained 7.99% over the past month. This has outpaced the Finance sector's gain of 1.96% and the S&P 500's gain of 5.01% in that time.
Wall Street will be looking for positivity from Coinbase Global, Inc. as it approaches its next earnings report date. The company is expected to report EPS of -$0.82, up 83.43% from the prior-year quarter. 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 -$2.47 per share and revenue of $2.85 billion. These results would represent year-over-year changes of +79.12% and -10.79%, respectively.
Any recent changes to analyst estimates for Coinbase Global, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 195, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 As Market Dips: What You Should Know
Coinbase Global, Inc. (COIN - Free Report) closed the most recent trading day at $61.94, moving +0.76% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 3.58%.
Prior to today's trading, shares of the company had gained 7.99% over the past month. This has outpaced the Finance sector's gain of 1.96% and the S&P 500's gain of 5.01% in that time.
Wall Street will be looking for positivity from Coinbase Global, Inc. as it approaches its next earnings report date. The company is expected to report EPS of -$0.82, up 83.43% from the prior-year quarter. 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 -$2.47 per share and revenue of $2.85 billion. These results would represent year-over-year changes of +79.12% and -10.79%, respectively.
Any recent changes to analyst estimates for Coinbase Global, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 195, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.