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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) ended the recent trading session at $151.65, demonstrating a +1.74% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 1.18%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq added 2.07%.
Heading into today, shares of the company had lost 21.15% over the past month, lagging the Finance sector's gain of 1.96% and the S&P 500's loss of 2.9%.
The upcoming earnings release of Coinbase Global, Inc. will be of great interest to investors. In that report, analysts expect Coinbase Global, Inc. to post earnings of $0.31 per share. This would mark year-over-year growth of 158.33%. Simultaneously, our latest consensus estimate expects the revenue to be $1.38 billion, showing a 7.59% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.74 per share and a revenue of $6.06 billion, indicating changes of -56.82% and -15.59%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Coinbase Global, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 8.96% lower. As of now, Coinbase Global, Inc. holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Coinbase Global, Inc. is currently exchanging hands at a Forward P/E ratio of 85.74. This valuation marks a premium compared to its industry average Forward P/E of 10.85.
It is also worth noting that COIN currently has a PEG ratio of 5.26. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Financial - Miscellaneous Services industry held an average PEG ratio of 1.02.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 92, putting it in the top 38% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Coinbase Global, Inc. (COIN) Surpasses Market Returns: Some Facts Worth Knowing
Coinbase Global, Inc. (COIN - Free Report) ended the recent trading session at $151.65, demonstrating a +1.74% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 1.18%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq added 2.07%.
Heading into today, shares of the company had lost 21.15% over the past month, lagging the Finance sector's gain of 1.96% and the S&P 500's loss of 2.9%.
The upcoming earnings release of Coinbase Global, Inc. will be of great interest to investors. In that report, analysts expect Coinbase Global, Inc. to post earnings of $0.31 per share. This would mark year-over-year growth of 158.33%. Simultaneously, our latest consensus estimate expects the revenue to be $1.38 billion, showing a 7.59% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.74 per share and a revenue of $6.06 billion, indicating changes of -56.82% and -15.59%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Coinbase Global, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 8.96% lower. As of now, Coinbase Global, Inc. holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Coinbase Global, Inc. is currently exchanging hands at a Forward P/E ratio of 85.74. This valuation marks a premium compared to its industry average Forward P/E of 10.85.
It is also worth noting that COIN currently has a PEG ratio of 5.26. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Financial - Miscellaneous Services industry held an average PEG ratio of 1.02.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 92, putting it in the top 38% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.