In the latest trading session, Coinbase Global, Inc. (COIN) closed at $63.05, marking a +1.24% move from the previous day. This move outpaced the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.43%, and the tech-heavy Nasdaq gained 0.01%.
Heading into today, shares of the company had lost 6.12% over the past month, outpacing the Finance sector's loss of 9.32% and the S&P 500's loss of 9.7% in that time.
Investors will be hoping for strength from Coinbase Global, Inc. as it approaches its next earnings release. The company is expected to report EPS of -$2.25, down 238.89% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $643.96 million, down 50.91% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$11.12 per share and revenue of $3.37 billion. These totals would mark changes of -176.69% and -56.96%, respectively, from last year.
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. 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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.93% lower within the past month. Coinbase Global, Inc. is currently a Zacks Rank #3 (Hold).
The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% 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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Coinbase Global, Inc. (COIN) : Free Stock Analysis Report
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