Coinbase Global, Inc. (COIN) ended the recent trading session at $157.37, demonstrating a -1.07% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.79% for the day. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq depreciated by 1.55%.
The company's shares have seen a decrease of 0.44% over the last month, not keeping up with the Finance sector's gain of 5.64% and the S&P 500's gain of 4.28%.
Market participants will be closely following the financial results of Coinbase Global, Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.32, reflecting a 166.67% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.36 billion, reflecting a 9.27% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.75 per share and revenue of $5.95 billion, which would represent changes of -56.58% and -17.13%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Coinbase Global, Inc. Recent revisions tend to reflect the latest near-term business trends. 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. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 9.27% lower. Coinbase Global, Inc. currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Coinbase Global, Inc. is currently exchanging hands at a Forward P/E ratio of 90.85. Its industry sports an average Forward P/E of 11, so one might conclude that Coinbase Global, Inc. is trading at a premium comparatively.
Meanwhile, COIN's PEG ratio is currently 6.1. 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. Financial - Miscellaneous Services stocks are, on average, holding a PEG ratio of 1 based on yesterday's closing prices.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 161, finds itself in the bottom 35% echelons 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Coinbase Global, Inc. (COIN): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).