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Are Finance Stocks Lagging Coinbase Global (COIN) This Year?

For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Coinbase Global, Inc. (COIN) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Coinbase Global, Inc. is a member of the Finance sector. This group includes 859 individual stocks and currently holds a Zacks Sector Rank of #7. 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Coinbase Global, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for COIN's full-year earnings has moved 524.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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According to our latest data, COIN has moved about 22.9% on a year-to-date basis. At the same time, Finance stocks have lost an average of 1.8%. This means that Coinbase Global, Inc. is outperforming the sector as a whole this year.

Another stock in the Finance sector, BrightSphere Investment Group (BSIG), has outperformed the sector so far this year. The stock's year-to-date return is 17%.

For BrightSphere Investment Group, the consensus EPS estimate for the current year has increased 21.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Coinbase Global, Inc. belongs to the Securities and Exchanges industry, which includes 8 individual stocks and currently sits at #42 in the Zacks Industry Rank. On average, stocks in this group have gained 3.4% this year, meaning that COIN is performing better in terms of year-to-date returns.

In contrast, BrightSphere Investment Group falls under the Financial - Investment Management industry. Currently, this industry has 38 stocks and is ranked #28. Since the beginning of the year, the industry has moved +3.1%.

Investors with an interest in Finance stocks should continue to track Coinbase Global, Inc. and BrightSphere Investment Group. These stocks will be looking to continue their solid performance.

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

BrightSphere Investment Group Inc. (BSIG) : Free Stock Analysis Report

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Zacks Investment Research