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Coinbase Global, Inc. (COIN) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest market close, Coinbase Global, Inc. (COIN - Free Report) reached $294.19, with a -0.44% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.88% for the day. On the other hand, the Dow registered a gain of 1.24%, and the technology-centric Nasdaq increased by 0.65%.
Prior to today's trading, shares of the company had gained 10.19% over the past month. This has outpaced the Business Services sector's gain of 0.03% and the S&P 500's gain of 1.17% in that time.
The investment community will be closely monitoring the performance of Coinbase Global, Inc. in its forthcoming earnings report. The company is expected to report EPS of $0.87, down 16.35% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $1.59 billion, indicating a 67.18% upward movement from the same quarter last year.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 7.53% higher within the past month. Coinbase Global, Inc. currently has a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Coinbase Global, Inc. is currently exchanging hands at a Forward P/E ratio of 84.85. This represents a premium compared to its industry's average Forward P/E of 14.27.
The Financial Transaction Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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Coinbase Global, Inc. (COIN) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest market close, Coinbase Global, Inc. (COIN - Free Report) reached $294.19, with a -0.44% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.88% for the day. On the other hand, the Dow registered a gain of 1.24%, and the technology-centric Nasdaq increased by 0.65%.
Prior to today's trading, shares of the company had gained 10.19% over the past month. This has outpaced the Business Services sector's gain of 0.03% and the S&P 500's gain of 1.17% in that time.
The investment community will be closely monitoring the performance of Coinbase Global, Inc. in its forthcoming earnings report. The company is expected to report EPS of $0.87, down 16.35% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $1.59 billion, indicating a 67.18% upward movement from the same quarter last year.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 7.53% higher within the past month. Coinbase Global, Inc. currently has a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Coinbase Global, Inc. is currently exchanging hands at a Forward P/E ratio of 84.85. This represents a premium compared to its industry's average Forward P/E of 14.27.
The Financial Transaction Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.