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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) closed at $173.38 in the latest trading session, marking a -4.26% move from the prior day. This change lagged the S&P 500's 1.74% loss on the day. Meanwhile, the Dow experienced a drop of 1.01%, and the technology-dominated Nasdaq saw a decrease of 2.38%.
Prior to today's trading, shares of the company had lost 1.54% was narrower than the Finance sector's loss of 6.39% and the S&P 500's loss of 4.99%.
The investment community will be closely monitoring the performance of Coinbase Global, Inc. in its forthcoming earnings report. The company is predicted to post an EPS of $0.43, indicating a 77.84% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.58 billion, indicating a 22.39% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3 per share and a revenue of $7.08 billion, signifying shifts of -25.56% and -1.42%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates 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 business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 2.18% lower within the past month. At present, Coinbase Global, Inc. boasts a Zacks Rank of #4 (Sell).
In terms of valuation, Coinbase Global, Inc. is presently being traded at a Forward P/E ratio of 60.33. For comparison, its industry has an average Forward P/E of 10, which means Coinbase Global, Inc. is trading at a premium to the group.
One should further note that COIN currently holds a PEG ratio of 3.14. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Financial - Miscellaneous Services industry was having an average PEG ratio of 0.84.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 148, which puts it in the bottom 40% of all 250+ industries.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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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) closed at $173.38 in the latest trading session, marking a -4.26% move from the prior day. This change lagged the S&P 500's 1.74% loss on the day. Meanwhile, the Dow experienced a drop of 1.01%, and the technology-dominated Nasdaq saw a decrease of 2.38%.
Prior to today's trading, shares of the company had lost 1.54% was narrower than the Finance sector's loss of 6.39% and the S&P 500's loss of 4.99%.
The investment community will be closely monitoring the performance of Coinbase Global, Inc. in its forthcoming earnings report. The company is predicted to post an EPS of $0.43, indicating a 77.84% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.58 billion, indicating a 22.39% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3 per share and a revenue of $7.08 billion, signifying shifts of -25.56% and -1.42%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates 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 business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 2.18% lower within the past month. At present, Coinbase Global, Inc. boasts a Zacks Rank of #4 (Sell).
In terms of valuation, Coinbase Global, Inc. is presently being traded at a Forward P/E ratio of 60.33. For comparison, its industry has an average Forward P/E of 10, which means Coinbase Global, Inc. is trading at a premium to the group.
One should further note that COIN currently holds a PEG ratio of 3.14. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Financial - Miscellaneous Services industry was having an average PEG ratio of 0.84.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 148, which puts it in the bottom 40% of all 250+ industries.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.