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Are Finance Stocks Lagging Coinbase Global (COIN) This Year?

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For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Coinbase Global, Inc. (COIN - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Coinbase Global, Inc. is a member of the Finance sector. This group includes 859 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Coinbase Global, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for COIN's full-year earnings has moved 524.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, COIN has moved about 22.9% on a year-to-date basis. At the same time, Finance stocks have lost an average of 1.8%. This means that Coinbase Global, Inc. is outperforming the sector as a whole this year.

Another stock in the Finance sector, BrightSphere Investment Group (BSIG - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 17%.

For BrightSphere Investment Group, the consensus EPS estimate for the current year has increased 21.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Coinbase Global, Inc. belongs to the Securities and Exchanges industry, which includes 8 individual stocks and currently sits at #42 in the Zacks Industry Rank. On average, stocks in this group have gained 3.4% this year, meaning that COIN is performing better in terms of year-to-date returns.

In contrast, BrightSphere Investment Group falls under the Financial - Investment Management industry. Currently, this industry has 38 stocks and is ranked #28. Since the beginning of the year, the industry has moved +3.1%.

Investors with an interest in Finance stocks should continue to track Coinbase Global, Inc. and BrightSphere Investment Group. These stocks will be looking to continue their solid performance.

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BrightSphere Investment Group Inc. (BSIG) - free report >>

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