In the latest market close, Coinbase Global, Inc. (COIN) reached $175, with a -0.02% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 2.36%. Elsewhere, the Dow saw a downswing of 2.48%, while the tech-heavy Nasdaq depreciated by 2.55%.
Shares of the company witnessed a loss of 7.81% over the previous month, trailing the performance of the Finance sector with its loss of 4.85% and the S&P 500's loss of 5.6%.
The investment community will be closely monitoring the performance of Coinbase Global, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on May 8, 2025. It is anticipated that the company will report an EPS of $2.09, marking a 26.67% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $2.22 billion, reflecting a 35.63% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.18 per share and a revenue of $8.04 billion, indicating changes of -5.53% and +22.54%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Coinbase Global, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 3.55% lower. Right now, Coinbase Global, Inc. possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Coinbase Global, Inc. currently has a Forward P/E ratio of 24.37. This expresses a premium compared to the average Forward P/E of 8.87 of its industry.
It's also important to note that COIN currently trades at a PEG ratio of 9.09. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Financial - Miscellaneous Services industry stood at 0.97 at the close of the market yesterday.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 76, putting 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.
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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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