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Coinbase Global, Inc. (COIN) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $100.82, marking a -0.43% move from the previous day. This change lagged the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Heading into today, shares of the company had gained 76.14% over the past month, outpacing the Finance sector's gain of 5.44% and the S&P 500's gain of 3.43% in that time.
Coinbase Global, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2023. On that day, Coinbase Global, Inc. is projected to report earnings of -$0.78 per share, which would represent year-over-year growth of 84.24%. Our most recent consensus estimate is calling for quarterly revenue of $648.93 million, down 19.72% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.59 per share and revenue of $2.82 billion, which would represent changes of +78.11% and -11.56%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Coinbase Global, Inc.These revisions help to show the ever-changing nature of near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 9.52% higher. 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 70, which puts it in the top 28% 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $100.82, marking a -0.43% move from the previous day. This change lagged the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Heading into today, shares of the company had gained 76.14% over the past month, outpacing the Finance sector's gain of 5.44% and the S&P 500's gain of 3.43% in that time.
Coinbase Global, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2023. On that day, Coinbase Global, Inc. is projected to report earnings of -$0.78 per share, which would represent year-over-year growth of 84.24%. Our most recent consensus estimate is calling for quarterly revenue of $648.93 million, down 19.72% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.59 per share and revenue of $2.82 billion, which would represent changes of +78.11% and -11.56%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Coinbase Global, Inc.These revisions help to show the ever-changing nature of near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 9.52% higher. 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 70, which puts it in the top 28% 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.