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Coinbase Global, Inc. (COIN) Stock Moves -0.01%: What You Should Know
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In the latest market close, Coinbase Global, Inc. (COIN - Free Report) reached $196.34, with a -0.01% movement compared to the previous day. This change was narrower than the S&P 500's 0.76% loss on the day. On the other hand, the Dow registered a loss of 0.75%, and the technology-centric Nasdaq decreased by 1.01%.
Shares of the company have appreciated by 21.58% over the course of the past month, outperforming the Business Services sector's gain of 3.52% and the S&P 500's gain of 4.31%.
Analysts and investors alike will be keeping a close eye on the performance of Coinbase Global, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2024. In that report, analysts expect Coinbase Global, Inc. to post earnings of $0.34 per share. This would mark year-over-year growth of 3500%. Our most recent consensus estimate is calling for quarterly revenue of $1.25 billion, up 84.78% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.16 per share and a revenue of $5.64 billion, indicating changes of +1294.59% and +81.37%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 0.91% lower. Currently, Coinbase Global, Inc. is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Coinbase Global, Inc. is currently trading at a Forward P/E ratio of 38.04. This represents a premium compared to its industry's average Forward P/E of 17.63.
The Financial Transaction Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Coinbase Global, Inc. (COIN) Stock Moves -0.01%: What You Should Know
In the latest market close, Coinbase Global, Inc. (COIN - Free Report) reached $196.34, with a -0.01% movement compared to the previous day. This change was narrower than the S&P 500's 0.76% loss on the day. On the other hand, the Dow registered a loss of 0.75%, and the technology-centric Nasdaq decreased by 1.01%.
Shares of the company have appreciated by 21.58% over the course of the past month, outperforming the Business Services sector's gain of 3.52% and the S&P 500's gain of 4.31%.
Analysts and investors alike will be keeping a close eye on the performance of Coinbase Global, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2024. In that report, analysts expect Coinbase Global, Inc. to post earnings of $0.34 per share. This would mark year-over-year growth of 3500%. Our most recent consensus estimate is calling for quarterly revenue of $1.25 billion, up 84.78% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.16 per share and a revenue of $5.64 billion, indicating changes of +1294.59% and +81.37%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 0.91% lower. Currently, Coinbase Global, Inc. is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Coinbase Global, Inc. is currently trading at a Forward P/E ratio of 38.04. This represents a premium compared to its industry's average Forward P/E of 17.63.
The Financial Transaction Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.