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Coinbase Global, Inc. (COIN) Gains As Market Dips: What You Should Know
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In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $78.72, marking a +0.79% move from the previous day. This change outpaced the S&P 500's 0.29% loss on the day. Meanwhile, the Dow lost 0.55%, and the Nasdaq, a tech-heavy index, added 1.24%.
Heading into today, shares of the company had gained 42.26% over the past month, outpacing the Finance sector's gain of 1.66% and the S&P 500's gain of 3.1% in that time.
Investors will be hoping for strength from Coinbase Global, Inc. as it approaches its next earnings release. In that report, analysts expect Coinbase Global, Inc. to post earnings of -$0.84 per share. This would mark year-over-year growth of 83.03%. Our most recent consensus estimate is calling for quarterly revenue of $653.81 million, down 19.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.56 per share and revenue of $2.82 billion, which would represent changes of +78.36% and -11.63%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. Within the past 30 days, our consensus EPS projection has moved 7.08% higher. Coinbase Global, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% 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
In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $78.72, marking a +0.79% move from the previous day. This change outpaced the S&P 500's 0.29% loss on the day. Meanwhile, the Dow lost 0.55%, and the Nasdaq, a tech-heavy index, added 1.24%.
Heading into today, shares of the company had gained 42.26% over the past month, outpacing the Finance sector's gain of 1.66% and the S&P 500's gain of 3.1% in that time.
Investors will be hoping for strength from Coinbase Global, Inc. as it approaches its next earnings release. In that report, analysts expect Coinbase Global, Inc. to post earnings of -$0.84 per share. This would mark year-over-year growth of 83.03%. Our most recent consensus estimate is calling for quarterly revenue of $653.81 million, down 19.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.56 per share and revenue of $2.82 billion, which would represent changes of +78.36% and -11.63%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. Within the past 30 days, our consensus EPS projection has moved 7.08% higher. Coinbase Global, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% 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.