The latest trading session saw Coinbase Global, Inc. (COIN) ending at $190.38, denoting a +0.33% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily loss of 0.22%. Elsewhere, the Dow saw a downswing of 0.03%, while the tech-heavy Nasdaq depreciated by 0.33%.
The company's stock has dropped by 26.64% in the past month, falling short of the Finance sector's loss of 3.33% and the S&P 500's loss of 7.48%.
The investment community will be paying close attention to the earnings performance of Coinbase Global, Inc. in its upcoming release. The company is expected to report EPS of $2.18, up 32.12% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.2 billion, up 34.25% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $7.32 per share and a revenue of $7.79 billion, demonstrating changes of -3.68% and +18.7%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Coinbase Global, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Within the past 30 days, our consensus EPS projection has moved 1.38% higher. Coinbase Global, Inc. is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Coinbase Global, Inc. is presently being traded at a Forward P/E ratio of 25.92. This signifies a premium in comparison to the average Forward P/E of 9.48 for its industry.
Meanwhile, COIN's PEG ratio is currently 9.67. 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. By the end of yesterday's trading, the Financial - Miscellaneous Services industry had an average PEG ratio of 1.02.
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 32, placing it within the top 13% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Coinbase Global, Inc. (COIN) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.