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Coinbase Global, Inc. (COIN) Outpaces Stock Market Gains: What You Should Know

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Coinbase Global, Inc. (COIN) closed at $51.22 in the latest trading session, marking a +0.33% move from the prior day. This move outpaced the S&P 500's daily gain of 0.22%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.2%.

Prior to today's trading, shares of the company had lost 24.28% over the past month. This has lagged the Finance sector's loss of 7.38% and the S&P 500's loss of 8.32% in that time.

Coinbase Global, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Coinbase Global, Inc. to post earnings of -$2.77 per share. This would mark a year-over-year decline of 143.15%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $956.32 million, down 57.08% from the year-ago period.

COIN's full-year Zacks Consensus Estimates are calling for earnings of -$7.99 per share and revenue of $4.41 billion. These results would represent year-over-year changes of -155.1% and -43.74%, respectively.

Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 moved 5.16% lower. Coinbase Global, Inc. is currently a Zacks Rank #4 (Sell).

The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 15% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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