Coinbase Global, Inc. (COIN) closed at $122.07 in the latest trading session, marking a +1.9% move from the prior day. This move outpaced the S&P 500's daily gain of 0.82%. Elsewhere, the Dow gained 0.41%, while the tech-heavy Nasdaq added 0.95%.
The the stock of company has fallen by 21.19% in the past month, lagging the Finance sector's gain of 1.02% and the S&P 500's gain of 5.59%.
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 February 15, 2024. The company is forecasted to report an EPS of -$0.06, showcasing a 97.56% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $731.94 million, indicating a 16.34% growth compared to the corresponding quarter of the prior year.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 37.12% higher. Coinbase Global, Inc. currently has a Zacks Rank of #3 (Hold).
The Securities and Exchanges industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 37, positioning it in the top 15% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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