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Coinbase Global, Inc. (COIN) Surpasses Market Returns: Some Facts Worth Knowing
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Coinbase Global, Inc. (COIN - Free Report) closed at $174.79 in the latest trading session, marking a +1.94% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.44%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.54%.
The company's stock has dropped by 13.06% in the past month, falling short of the Finance sector's loss of 2.92% and the S&P 500's loss of 3.31%.
Market participants will be closely following the financial results of Coinbase Global, Inc. in its upcoming release. The company is expected to report EPS of $0.43, down 77.84% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $1.58 billion, indicating a 22.39% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.93 per share and revenue of $7 billion, indicating changes of -27.3% and -2.49%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.39% downward. Coinbase Global, Inc. currently has a Zacks Rank of #4 (Sell).
In the context of valuation, Coinbase Global, Inc. is at present trading with a Forward P/E ratio of 58.44. This valuation marks a premium compared to its industry average Forward P/E of 10.56.
It's also important to note that COIN currently trades at a PEG ratio of 3.31. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. COIN's industry had an average PEG ratio of 0.9 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 150, placing it within the bottom 39% of over 250 industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Coinbase Global, Inc. (COIN) Surpasses Market Returns: Some Facts Worth Knowing
Coinbase Global, Inc. (COIN - Free Report) closed at $174.79 in the latest trading session, marking a +1.94% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.44%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.54%.
The company's stock has dropped by 13.06% in the past month, falling short of the Finance sector's loss of 2.92% and the S&P 500's loss of 3.31%.
Market participants will be closely following the financial results of Coinbase Global, Inc. in its upcoming release. The company is expected to report EPS of $0.43, down 77.84% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $1.58 billion, indicating a 22.39% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.93 per share and revenue of $7 billion, indicating changes of -27.3% and -2.49%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.39% downward. Coinbase Global, Inc. currently has a Zacks Rank of #4 (Sell).
In the context of valuation, Coinbase Global, Inc. is at present trading with a Forward P/E ratio of 58.44. This valuation marks a premium compared to its industry average Forward P/E of 10.56.
It's also important to note that COIN currently trades at a PEG ratio of 3.31. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. COIN's industry had an average PEG ratio of 0.9 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 150, placing it within the bottom 39% of over 250 industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.