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Coinbase Global, Inc. (COIN) Laps the Stock Market: Here's Why
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Coinbase Global, Inc. (COIN - Free Report) ended the recent trading session at $262, demonstrating a +1.99% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.32%. At the same time, the Dow added 0.68%, and the tech-heavy Nasdaq gained 0.2%.
Shares of the company have appreciated by 58.17% over the course of the past month, outperforming the Finance sector's gain of 4.23% and the S&P 500's gain of 5.11%.
The investment community will be paying close attention to the earnings performance of Coinbase Global, Inc. in its upcoming release. On that day, Coinbase Global, Inc. is projected to report earnings of $0.50 per share, which would represent year-over-year growth of 233.33%. In the meantime, our current consensus estimate forecasts the revenue to be $1.03 billion, indicating a 33.38% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.53 per share and a revenue of $4.08 billion, indicating changes of +313.51% and +31.33%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Coinbase Global, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 52.36% higher. At present, Coinbase Global, Inc. boasts a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Coinbase Global, Inc. is at present trading with a Forward P/E ratio of 167.76. This indicates a premium in contrast to its industry's Forward P/E of 22.22.
The Securities and Exchanges industry is part of the Finance sector. With its current Zacks Industry Rank of 94, this industry ranks in the top 38% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Coinbase Global, Inc. (COIN) Laps the Stock Market: Here's Why
Coinbase Global, Inc. (COIN - Free Report) ended the recent trading session at $262, demonstrating a +1.99% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.32%. At the same time, the Dow added 0.68%, and the tech-heavy Nasdaq gained 0.2%.
Shares of the company have appreciated by 58.17% over the course of the past month, outperforming the Finance sector's gain of 4.23% and the S&P 500's gain of 5.11%.
The investment community will be paying close attention to the earnings performance of Coinbase Global, Inc. in its upcoming release. On that day, Coinbase Global, Inc. is projected to report earnings of $0.50 per share, which would represent year-over-year growth of 233.33%. In the meantime, our current consensus estimate forecasts the revenue to be $1.03 billion, indicating a 33.38% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.53 per share and a revenue of $4.08 billion, indicating changes of +313.51% and +31.33%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Coinbase Global, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 52.36% higher. At present, Coinbase Global, Inc. boasts a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Coinbase Global, Inc. is at present trading with a Forward P/E ratio of 167.76. This indicates a premium in contrast to its industry's Forward P/E of 22.22.
The Securities and Exchanges industry is part of the Finance sector. With its current Zacks Industry Rank of 94, this industry ranks in the top 38% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.