Coinbase Global, Inc. (COIN) closed the most recent trading day at $168.87, moving +2.05% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.72%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.12%.
The stock of company has risen by 8.58% in the past month, leading the Finance sector's gain of 5.36% and the S&P 500's loss of 0.9%.
Analysts and investors alike will be keeping a close eye on the performance of Coinbase Global, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of $0.31, up 158.33% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.36 billion, showing a 9.27% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.74 per share and a revenue of $5.95 billion, indicating changes of -56.82% and -17.13%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Coinbase Global, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 9.91% decrease. As of now, Coinbase Global, Inc. holds a Zacks Rank of #3 (Hold).
Investors should also note Coinbase Global, Inc.'s current valuation metrics, including its Forward P/E ratio of 95.18. For comparison, its industry has an average Forward P/E of 11.13, which means Coinbase Global, Inc. is trading at a premium to the group.
We can also see that COIN currently has a PEG ratio of 5.84. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Financial - Miscellaneous Services industry currently had an average PEG ratio of 1.02 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 100, placing it within the top 41% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Coinbase Global, Inc. (COIN): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).