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Coinbase Global, Inc. (COIN) Exceeds Market Returns: Some Facts to Consider
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Coinbase Global, Inc. (COIN - Free Report) closed at $327.02 in the latest trading session, marking a +1.23% move from the prior day. This move outpaced the S&P 500's daily gain of 0.47%. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, added 0.94%.
The company's stock has climbed by 1.73% in the past month, falling short of the Finance sector's gain of 2.42% and the S&P 500's gain of 2.32%.
The investment community will be closely monitoring the performance of Coinbase Global, Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $1.04, reflecting a 67.74% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.71 billion, up 42.19% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.01 per share and a revenue of $7.03 billion, indicating changes of -7.76% and +7.16%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.24% decrease. At present, Coinbase Global, Inc. boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Coinbase Global, Inc. has a Forward P/E ratio of 46.08 right now. This represents a premium compared to its industry average Forward P/E of 13.75.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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) Exceeds Market Returns: Some Facts to Consider
Coinbase Global, Inc. (COIN - Free Report) closed at $327.02 in the latest trading session, marking a +1.23% move from the prior day. This move outpaced the S&P 500's daily gain of 0.47%. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, added 0.94%.
The company's stock has climbed by 1.73% in the past month, falling short of the Finance sector's gain of 2.42% and the S&P 500's gain of 2.32%.
The investment community will be closely monitoring the performance of Coinbase Global, Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $1.04, reflecting a 67.74% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.71 billion, up 42.19% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.01 per share and a revenue of $7.03 billion, indicating changes of -7.76% and +7.16%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.24% decrease. At present, Coinbase Global, Inc. boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Coinbase Global, Inc. has a Forward P/E ratio of 46.08 right now. This represents a premium compared to its industry average Forward P/E of 13.75.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.