The latest trading session saw Coinbase Global, Inc. (COIN) ending at $172.23, denoting a -0.98% adjustment from its last day's close. This change lagged the S&P 500's 0.55% gain on the day. Elsewhere, the Dow saw an upswing of 1.01%, while the tech-heavy Nasdaq depreciated by 0.14%.

Shares of the company have depreciated by 19.34% over the course of the past month, underperforming the Finance sector's loss of 3.92% and the S&P 500's loss of 6.22%.

The investment community will be paying close attention to the earnings performance of Coinbase Global, Inc. in its upcoming release. In that report, analysts expect Coinbase Global, Inc. to post earnings of $2.18 per share. This would mark year-over-year growth of 32.12%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.2 billion, indicating a 34.25% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $7.32 per share and revenue of $7.79 billion, which would represent changes of -3.68% and +18.7%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Coinbase Global, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 witnessed an unchanged state. Coinbase Global, Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.

In terms of valuation, Coinbase Global, Inc. is presently being traded at a Forward P/E ratio of 23.76. Its industry sports an average Forward P/E of 9.35, so one might conclude that Coinbase Global, Inc. is trading at a premium comparatively.

It's also important to note that COIN currently trades at a PEG ratio of 8.86. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Financial - Miscellaneous Services industry currently had an average PEG ratio of 1 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 23, placing it within the top 10% of over 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.

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).

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