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Coinbase Global, Inc. (COIN) Falls More Steeply Than Broader Market: What Investors Need to Know
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Coinbase Global, Inc. (COIN - Free Report) ended the recent trading session at $254.17, demonstrating a -0.95% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.11%. Elsewhere, the Dow saw an upswing of 0.12%, while the tech-heavy Nasdaq depreciated by 0.41%.
Coming into today, shares of the company had gained 80.73% in the past month. In that same time, the Finance sector gained 4.89%, while the S&P 500 gained 2.7%.
The investment community will be closely monitoring the performance of Coinbase Global, Inc. in its forthcoming earnings report. The company is forecasted to report an EPS of $0.34, showcasing a 126.67% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1 billion, indicating a 29.83% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.01 per share and a revenue of $4.02 billion, demonstrating changes of +172.97% and +29.33%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Coinbase Global, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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, there's been a 342.17% rise in the Zacks Consensus EPS estimate. Currently, Coinbase Global, Inc. is carrying a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Coinbase Global, Inc. currently has a Forward P/E ratio of 255.34. For comparison, its industry has an average Forward P/E of 22.31, which means Coinbase Global, Inc. is trading at a premium to the group.
The Securities and Exchanges industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow COIN in the coming trading sessions, be sure to utilize Zacks.com.
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Coinbase Global, Inc. (COIN) Falls More Steeply Than Broader Market: What Investors Need to Know
Coinbase Global, Inc. (COIN - Free Report) ended the recent trading session at $254.17, demonstrating a -0.95% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.11%. Elsewhere, the Dow saw an upswing of 0.12%, while the tech-heavy Nasdaq depreciated by 0.41%.
Coming into today, shares of the company had gained 80.73% in the past month. In that same time, the Finance sector gained 4.89%, while the S&P 500 gained 2.7%.
The investment community will be closely monitoring the performance of Coinbase Global, Inc. in its forthcoming earnings report. The company is forecasted to report an EPS of $0.34, showcasing a 126.67% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1 billion, indicating a 29.83% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.01 per share and a revenue of $4.02 billion, demonstrating changes of +172.97% and +29.33%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Coinbase Global, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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, there's been a 342.17% rise in the Zacks Consensus EPS estimate. Currently, Coinbase Global, Inc. is carrying a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Coinbase Global, Inc. currently has a Forward P/E ratio of 255.34. For comparison, its industry has an average Forward P/E of 22.31, which means Coinbase Global, Inc. is trading at a premium to the group.
The Securities and Exchanges industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow COIN in the coming trading sessions, be sure to utilize Zacks.com.