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Coinbase Global, Inc. (COIN) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $152.40, marking a -7.15% move from the previous day. The stock's change was less than the S&P 500's daily loss of 2.65%. On the other hand, the Dow registered a loss of 1.35%, and the technology-centric Nasdaq decreased by 4.18%.
Heading into today, shares of the company had lost 14.94% over the past month, lagging the Finance sector's gain of 2.8% and the S&P 500's gain of 5.47%.
The investment community will be closely monitoring the performance of Coinbase Global, Inc. in its forthcoming earnings report. In that report, analysts expect Coinbase Global, Inc. to post earnings of $0.39 per share. This would mark year-over-year growth of 225%. In the meantime, our current consensus estimate forecasts the revenue to be $1.39 billion, indicating a 6.97% decline compared to the corresponding quarter of the prior year.
COIN's full-year Zacks Consensus Estimates are calling for earnings of $1.77 per share and revenue of $6.06 billion. These results would represent year-over-year changes of -56.08% and -15.64%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Coinbase Global, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 36.24% lower within the past month. Coinbase Global, Inc. is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Coinbase Global, Inc. is currently being traded at a Forward P/E ratio of 92.55. This denotes a premium relative to the industry average Forward P/E of 10.23.
We can additionally observe that COIN currently boasts a PEG ratio of 5.68. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. COIN's industry had an average PEG ratio of 0.97 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 146, finds itself in the bottom 41% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $152.40, marking a -7.15% move from the previous day. The stock's change was less than the S&P 500's daily loss of 2.65%. On the other hand, the Dow registered a loss of 1.35%, and the technology-centric Nasdaq decreased by 4.18%.
Heading into today, shares of the company had lost 14.94% over the past month, lagging the Finance sector's gain of 2.8% and the S&P 500's gain of 5.47%.
The investment community will be closely monitoring the performance of Coinbase Global, Inc. in its forthcoming earnings report. In that report, analysts expect Coinbase Global, Inc. to post earnings of $0.39 per share. This would mark year-over-year growth of 225%. In the meantime, our current consensus estimate forecasts the revenue to be $1.39 billion, indicating a 6.97% decline compared to the corresponding quarter of the prior year.
COIN's full-year Zacks Consensus Estimates are calling for earnings of $1.77 per share and revenue of $6.06 billion. These results would represent year-over-year changes of -56.08% and -15.64%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Coinbase Global, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 36.24% lower within the past month. Coinbase Global, Inc. is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Coinbase Global, Inc. is currently being traded at a Forward P/E ratio of 92.55. This denotes a premium relative to the industry average Forward P/E of 10.23.
We can additionally observe that COIN currently boasts a PEG ratio of 5.68. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. COIN's industry had an average PEG ratio of 0.97 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 146, finds itself in the bottom 41% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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.