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Coinbase Global, Inc. (COIN) Stock Slides as Market Rises: Facts to Know Before You Trade
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The most recent trading session ended with Coinbase Global, Inc. (COIN - Free Report) standing at $219.28, reflecting a -1.85% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.03% gain on the day. On the other hand, the Dow registered a gain of 0.41%, and the technology-centric Nasdaq increased by 0.12%.
The company's stock has dropped by 6.76% in the past month, falling short of the Finance sector's loss of 5.58% and the S&P 500's loss of 0.9%.
Analysts and investors alike will be keeping a close eye on the performance of Coinbase Global, Inc. in its upcoming earnings disclosure. On that day, Coinbase Global, Inc. is projected to report earnings of $0.89 per share, which would represent year-over-year growth of 493.33%. Alongside, our most recent consensus estimate is anticipating revenue of $1.2 billion, indicating a 55.5% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.44 per share and a revenue of $4.53 billion, representing changes of +559.46% and +45.74%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 45.37% increase. Right now, Coinbase Global, Inc. possesses a Zacks Rank of #1 (Strong Buy).
Investors should also note Coinbase Global, Inc.'s current valuation metrics, including its Forward P/E ratio of 91.75. This indicates a premium in contrast to its industry's Forward P/E of 21.72.
The Securities and Exchanges industry is part of the Finance sector. With its current Zacks Industry Rank of 42, this industry ranks in the top 17% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Coinbase Global, Inc. (COIN) Stock Slides as Market Rises: Facts to Know Before You Trade
The most recent trading session ended with Coinbase Global, Inc. (COIN - Free Report) standing at $219.28, reflecting a -1.85% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.03% gain on the day. On the other hand, the Dow registered a gain of 0.41%, and the technology-centric Nasdaq increased by 0.12%.
The company's stock has dropped by 6.76% in the past month, falling short of the Finance sector's loss of 5.58% and the S&P 500's loss of 0.9%.
Analysts and investors alike will be keeping a close eye on the performance of Coinbase Global, Inc. in its upcoming earnings disclosure. On that day, Coinbase Global, Inc. is projected to report earnings of $0.89 per share, which would represent year-over-year growth of 493.33%. Alongside, our most recent consensus estimate is anticipating revenue of $1.2 billion, indicating a 55.5% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.44 per share and a revenue of $4.53 billion, representing changes of +559.46% and +45.74%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 45.37% increase. Right now, Coinbase Global, Inc. possesses a Zacks Rank of #1 (Strong Buy).
Investors should also note Coinbase Global, Inc.'s current valuation metrics, including its Forward P/E ratio of 91.75. This indicates a premium in contrast to its industry's Forward P/E of 21.72.
The Securities and Exchanges industry is part of the Finance sector. With its current Zacks Industry Rank of 42, this industry ranks in the top 17% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.