Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Coinbase Global, Inc. (COIN) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Coinbase Global, Inc. is a member of our Finance group, which includes 871 different companies and currently sits at #1 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Coinbase Global, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for COIN's full-year earnings has moved 42.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, COIN has moved about 10.7% on a year-to-date basis. Meanwhile, the Finance sector has returned an average of 4.5% on a year-to-date basis. This means that Coinbase Global, Inc. is performing better than its sector in terms of year-to-date returns.
BOC Hong Kong Ltd. (BHKLY) is another Finance stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 8.3%.
For BOC Hong Kong Ltd. the consensus EPS estimate for the current year has increased 5.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Coinbase Global, Inc. is a member of the Financial - Miscellaneous Services industry, which includes 87 individual companies and currently sits at #46 in the Zacks Industry Rank. On average, this group has gained an average of 3% so far this year, meaning that COIN is performing better in terms of year-to-date returns.
In contrast, BOC Hong Kong Ltd. falls under the Banks - Foreign industry. Currently, this industry has 68 stocks and is ranked #172. Since the beginning of the year, the industry has moved +7.3%.
Investors with an interest in Finance stocks should continue to track Coinbase Global, Inc. and BOC Hong Kong Ltd. These stocks will be looking to continue their solid performance.
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