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Coinbase Global, Inc. (COIN) Rises But Trails Market: What Investors Should Know
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Coinbase Global, Inc. (COIN - Free Report) closed the latest trading day at $128.95, indicating a +0.59% change from the previous session's end. This change lagged the S&P 500's 1.25% gain on the day. Meanwhile, the Dow experienced a rise of 0.97%, and the technology-dominated Nasdaq saw an increase of 1.3%.
The company's stock has dropped by 15.79% in the past month, falling short of the Finance sector's loss of 2.58% and the S&P 500's gain of 1.58%.
The upcoming earnings release of Coinbase Global, Inc. will be of great interest to investors. The company's earnings report is expected on February 15, 2024. It is anticipated that the company will report an EPS of -$0.06, marking a 97.56% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $731.94 million, indicating a 16.34% upward movement from the same quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Coinbase Global, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 37.12% higher. Currently, Coinbase Global, Inc. is carrying 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 38, which puts it in the top 16% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Coinbase Global, Inc. (COIN) Rises But Trails Market: What Investors Should Know
Coinbase Global, Inc. (COIN - Free Report) closed the latest trading day at $128.95, indicating a +0.59% change from the previous session's end. This change lagged the S&P 500's 1.25% gain on the day. Meanwhile, the Dow experienced a rise of 0.97%, and the technology-dominated Nasdaq saw an increase of 1.3%.
The company's stock has dropped by 15.79% in the past month, falling short of the Finance sector's loss of 2.58% and the S&P 500's gain of 1.58%.
The upcoming earnings release of Coinbase Global, Inc. will be of great interest to investors. The company's earnings report is expected on February 15, 2024. It is anticipated that the company will report an EPS of -$0.06, marking a 97.56% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $731.94 million, indicating a 16.34% upward movement from the same quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Coinbase Global, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 37.12% higher. Currently, Coinbase Global, Inc. is carrying 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 38, which puts it in the top 16% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.