Coinbase Global, Inc. (COIN) Gains But Lags Market: What You Should Know

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Coinbase Global, Inc. (COIN) closed the most recent trading day at $62.96, moving +1.14% from the previous trading session. This move lagged the S&P 500's daily gain of 1.42%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, lost 0.07%.

Coming into today, shares of the company had gained 32.39% in the past month. In that same time, the Finance sector gained 4.24%, while the S&P 500 gained 6.69%.

Coinbase Global, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 9, 2022. In that report, analysts expect Coinbase Global, Inc. to post earnings of -$3.04 per share. This would mark a year-over-year decline of 147.35%. Our most recent consensus estimate is calling for quarterly revenue of $877.32 million, down 60.62% from the year-ago period.

COIN's full-year Zacks Consensus Estimates are calling for earnings of -$8.46 per share and revenue of $3.94 billion. These results would represent year-over-year changes of -158.34% and -49.73%, respectively.

Investors might also notice recent changes to analyst estimates for Coinbase Global, Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's 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.

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. The Zacks Consensus EPS estimate has moved 3.58% lower within the past month. Coinbase Global, Inc. is holding a Zacks Rank of #3 (Hold) right now.

The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 147, putting it in the bottom 42% 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.

To follow COIN in the coming trading sessions, be sure to utilize Zacks.com.


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