Coinbase Global, Inc. (COIN) Stock Moves -0.05%: What You Should Know
Coinbase Global, Inc. (COIN) closed the most recent trading day at $74.59, moving -0.05% from the previous trading session. This change was narrower than the S&P 500's 0.61% loss on the day. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq lost 0.67%.
Heading into today, shares of the company had gained 124.38% over the past month, outpacing the Finance sector's gain of 8.01% and the S&P 500's gain of 8.32% in that time.
Wall Street will be looking for positivity from Coinbase Global, Inc. as it approaches its next earnings report date. This is expected to be February 21, 2023. In that report, analysts expect Coinbase Global, Inc. to post earnings of -$2.39 per share. This would mark a year-over-year decline of 171.99%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $586.23 million, down 76.54% from the year-ago period.
Any recent changes to analyst estimates for Coinbase Global, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 has moved 2.8% lower. Coinbase Global, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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Coinbase Global, Inc. (COIN) : Free Stock Analysis Report
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