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Coinbase Global, Inc. (COIN) Declines More Than Market: Some Information for Investors
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Coinbase Global, Inc. (COIN - Free Report) ended the recent trading session at $198.13, demonstrating a -1.46% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.76% for the day. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 1.13%.
Shares of the company have appreciated by 7.43% over the course of the past month, outperforming the Finance sector's loss of 2.02%, and the S&P 500's gain of 1.26%.
The investment community will be closely monitoring the performance of Coinbase Global, Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.09, reflecting a 106.25% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.15 billion, down 38.62% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.21 per share and revenue of $5.25 billion. These totals would mark changes of -105.21% and -26.83%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Coinbase Global, Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 51.52% higher within the past month. Coinbase Global, Inc. is holding a Zacks Rank of #4 (Sell) right now.
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 103, positioning it in the top 42% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Coinbase Global, Inc. (COIN) Declines More Than Market: Some Information for Investors
Coinbase Global, Inc. (COIN - Free Report) ended the recent trading session at $198.13, demonstrating a -1.46% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.76% for the day. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 1.13%.
Shares of the company have appreciated by 7.43% over the course of the past month, outperforming the Finance sector's loss of 2.02%, and the S&P 500's gain of 1.26%.
The investment community will be closely monitoring the performance of Coinbase Global, Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.09, reflecting a 106.25% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.15 billion, down 38.62% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.21 per share and revenue of $5.25 billion. These totals would mark changes of -105.21% and -26.83%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Coinbase Global, Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 51.52% higher within the past month. Coinbase Global, Inc. is holding a Zacks Rank of #4 (Sell) right now.
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 103, positioning it in the top 42% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.