In the latest close session, Coinbase Global, Inc. (COIN) was down 2.95% at $253.85. This change lagged the S&P 500's daily loss of 0.84%. Elsewhere, the Dow lost 0.7%, while the tech-heavy Nasdaq lost 0.91%.
The stock of company has fallen by 1.84% in the past month, leading the Finance sector's loss of 0% and undershooting the S&P 500's gain of 1.44%.
The investment community will be paying close attention to the earnings performance of Coinbase Global, Inc. in its upcoming release. The company's upcoming EPS is projected at $0.91, signifying a 14.95% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.54 billion, up 6.25% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.96 per share and a revenue of $6.91 billion, signifying shifts of -61.05% and +5.32%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Coinbase Global, Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 4.1% higher. Right now, Coinbase Global, Inc. possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Coinbase Global, Inc. is currently trading at a Forward P/E ratio of 51.09. This valuation marks a premium compared to its industry average Forward P/E of 11.84.
We can also see that COIN currently has a PEG ratio of 19.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Financial - Miscellaneous Services industry had an average PEG ratio of 1 as trading concluded yesterday.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 93, finds itself in the top 38% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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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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