We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Coinbase Global, Inc. (COIN) Dips More Than Broader Market: What You Should Know
Read MoreHide Full Article
In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $164.51, marking a -4.42% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 1.21%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Heading into today, shares of the company had gained 17.7% over the past month, outpacing the Finance sector's loss of 2.66% and the S&P 500's loss of 2.43%.
Market participants will be closely following the financial results of Coinbase Global, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.09, marking a 106.25% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.15 billion, indicating a 38.62% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.16 per share and revenue of $5.22 billion, which would represent changes of -103.97% and -27.3%, respectively, from the prior 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 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 61.07% higher. Coinbase Global, Inc. currently has a Zacks Rank of #4 (Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 154, this industry ranks in the bottom 38% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
Image: Bigstock
Coinbase Global, Inc. (COIN) Dips More Than Broader Market: What You Should Know
In the latest trading session, Coinbase Global, Inc. (COIN - Free Report) closed at $164.51, marking a -4.42% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 1.21%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Heading into today, shares of the company had gained 17.7% over the past month, outpacing the Finance sector's loss of 2.66% and the S&P 500's loss of 2.43%.
Market participants will be closely following the financial results of Coinbase Global, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.09, marking a 106.25% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.15 billion, indicating a 38.62% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.16 per share and revenue of $5.22 billion, which would represent changes of -103.97% and -27.3%, respectively, from the prior 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 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 61.07% higher. Coinbase Global, Inc. currently has a Zacks Rank of #4 (Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 154, this industry ranks in the bottom 38% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.