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Coinbase Global, Inc. (COIN) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest close session, Coinbase Global, Inc. (COIN - Free Report) was down 4.9% at $172.89. This move lagged the S&P 500's daily loss of 1.11%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq lost 1.88%.
Shares of the company have appreciated by 5.62% over the course of the past month, outperforming the Finance sector's loss of 3.61%, and the S&P 500's gain of 2.06%.
The upcoming earnings release of Coinbase Global, Inc. will be of great interest to investors. The company is predicted to post an EPS of -$0.2, indicating a 113.89% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.14 billion, reflecting a 38.75% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.5 per share and revenue of $5.24 billion, which would represent changes of -112.41% and -27.03%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Coinbase Global, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 105.17% lower. Coinbase Global, Inc. currently has a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 172, positioning it in the bottom 31% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Coinbase Global, Inc. (COIN) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest close session, Coinbase Global, Inc. (COIN - Free Report) was down 4.9% at $172.89. This move lagged the S&P 500's daily loss of 1.11%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq lost 1.88%.
Shares of the company have appreciated by 5.62% over the course of the past month, outperforming the Finance sector's loss of 3.61%, and the S&P 500's gain of 2.06%.
The upcoming earnings release of Coinbase Global, Inc. will be of great interest to investors. The company is predicted to post an EPS of -$0.2, indicating a 113.89% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.14 billion, reflecting a 38.75% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.5 per share and revenue of $5.24 billion, which would represent changes of -112.41% and -27.03%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Coinbase Global, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 105.17% lower. Coinbase Global, Inc. currently has a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 172, positioning it in the bottom 31% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.