In the latest market close, Coinbase Global, Inc. (COIN) reached $217.45, with a +1.53% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.55%. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq gained 0.7%.
Prior to today's trading, shares of the company had lost 20.79% over the past month. This has lagged the Finance sector's loss of 3.97% and the S&P 500's loss of 5.56% in that time.
The upcoming earnings release of Coinbase Global, Inc. will be of great interest to investors. On that day, Coinbase Global, Inc. is projected to report earnings of $2.18 per share, which would represent year-over-year growth of 32.12%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.2 billion, up 34.25% from the year-ago period.
COIN's full-year Zacks Consensus Estimates are calling for earnings of $7.32 per share and revenue of $7.79 billion. These results would represent year-over-year changes of -3.68% and +18.7%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Coinbase Global, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 110.23% upward. Coinbase Global, Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Coinbase Global, Inc. is holding a Forward P/E ratio of 29.25. This valuation marks a premium compared to its industry's average Forward P/E of 9.06.
It is also worth noting that COIN currently has a PEG ratio of 10.92. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Financial - Miscellaneous Services was holding an average PEG ratio of 1 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 31, finds itself in the top 13% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
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