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

Coinbase Global, Inc. (COIN) closed the most recent trading day at $71.52, moving +1.42% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.02%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, added 0.22%.

Prior to today's trading, shares of the company had lost 16.74% over the past month. This has lagged the Finance sector's loss of 1.61% and the S&P 500's loss of 2.86% in that time.

Investors will be hoping for strength from Coinbase Global, Inc. as it approaches its next earnings release. In that report, analysts expect Coinbase Global, Inc. to post earnings of -$0.50 per share. This would mark year-over-year growth of 79.42%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $667.21 million, up 13.02% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.80 per share and revenue of $2.83 billion, which would represent changes of +84.78% and -11.44%, respectively, from the prior year.

Any recent changes to analyst estimates for Coinbase Global, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Coinbase Global, Inc. is currently sporting a Zacks Rank of #3 (Hold).

The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% 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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