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Coinbase Global, Inc. (COIN) Suffers a Larger Drop Than the General Market: Key Insights

The latest trading session saw Coinbase Global, Inc. (COIN) ending at $235.03, denoting a -0.39% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.25%. Elsewhere, the Dow saw an upswing of 0.77%, while the tech-heavy Nasdaq depreciated by 0.79%.

The company's stock has climbed by 1.92% in the past month, exceeding the Finance sector's loss of 1.89% and lagging the S&P 500's gain of 3.59%.

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 $1.12, up 366.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.41 billion, up 98.72% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $7.18 per share and a revenue of $5.7 billion, demonstrating changes of +1840.54% and +83.51%, respectively, from the preceding year.

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It's also important for investors to be aware of any recent modifications to analyst estimates for Coinbase Global, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Coinbase Global, Inc. is carrying a Zacks Rank of #1 (Strong Buy).

In the context of valuation, Coinbase Global, Inc. is at present trading with a Forward P/E ratio of 32.88. This denotes a premium relative to the industry's average Forward P/E of 21.12.

The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow COIN in the coming trading sessions, be sure to utilize Zacks.com.

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Coinbase Global, Inc. (COIN) : Free Stock Analysis Report

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