Coinbase Global, Inc. (COIN) ended the recent trading session at $331.95, demonstrating a -3.07% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.44%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 0.7%.
Coming into today, shares of the company had gained 7.07% in the past month. In that same time, the Finance sector gained 3.79%, while the S&P 500 gained 4.03%.
The upcoming earnings release of Coinbase Global, Inc. will be of great interest to investors. It is anticipated that the company will report an EPS of $1.04, marking a 67.74% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.71 billion, up 42.19% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.01 per share and a revenue of $7.03 billion, indicating changes of -7.76% and +7.16%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Coinbase Global, Inc. presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Coinbase Global, Inc. currently has a Forward P/E ratio of 48.85. Its industry sports an average Forward P/E of 13.4, so one might conclude that Coinbase Global, Inc. is trading at a premium comparatively.
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 71, positioning it in the top 29% 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): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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