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Coinbase Global, Inc. (COIN) Stock Slides as Market Rises: Facts to Know Before You Trade
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Coinbase Global, Inc. (COIN - Free Report) ended the recent trading session at $280.39, demonstrating a -1.41% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.72% for the day. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq gained 1.35%.
The company's shares have seen a decrease of 1.16% over the last month, not keeping up with the Business Services sector's gain of 5.25% and the S&P 500's gain of 1.02%.
The investment community will be paying close attention to the earnings performance of Coinbase Global, Inc. in its upcoming release. The company is slated to reveal its earnings on February 13, 2025. In that report, analysts expect Coinbase Global, Inc. to post earnings of $0.87 per share. This would mark a year-over-year decline of 16.35%. In the meantime, our current consensus estimate forecasts the revenue to be $1.59 billion, indicating a 67.18% growth compared to the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Coinbase Global, Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.53% higher. Coinbase Global, Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Coinbase Global, Inc. is presently being traded at a Forward P/E ratio of 81.67. This denotes a premium relative to the industry's average Forward P/E of 14.3.
The Financial Transaction Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 90, finds itself in the top 36% echelons 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Coinbase Global, Inc. (COIN) Stock Slides as Market Rises: Facts to Know Before You Trade
Coinbase Global, Inc. (COIN - Free Report) ended the recent trading session at $280.39, demonstrating a -1.41% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.72% for the day. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq gained 1.35%.
The company's shares have seen a decrease of 1.16% over the last month, not keeping up with the Business Services sector's gain of 5.25% and the S&P 500's gain of 1.02%.
The investment community will be paying close attention to the earnings performance of Coinbase Global, Inc. in its upcoming release. The company is slated to reveal its earnings on February 13, 2025. In that report, analysts expect Coinbase Global, Inc. to post earnings of $0.87 per share. This would mark a year-over-year decline of 16.35%. In the meantime, our current consensus estimate forecasts the revenue to be $1.59 billion, indicating a 67.18% growth compared to the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Coinbase Global, Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.53% higher. Coinbase Global, Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Coinbase Global, Inc. is presently being traded at a Forward P/E ratio of 81.67. This denotes a premium relative to the industry's average Forward P/E of 14.3.
The Financial Transaction Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 90, finds itself in the top 36% echelons 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.