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Coinbase Global, Inc. (COIN) Dips More Than Broader Markets: What You Should Know

Coinbase Global, Inc. (COIN) closed the most recent trading day at $243.31, moving -1.76% from the previous trading session. This change lagged the S&P 500's 0.35% loss on the day.

Heading into today, shares of the company had gained 3.58% over the past month, outpacing the Finance sector's loss of 1.01% and the S&P 500's gain of 3.36% in that time.

COIN will be looking to display strength as it nears its next earnings release.

Investors might also notice recent changes to analyst estimates for COIN. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.16% lower. COIN is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note COIN's current valuation metrics, including its Forward P/E ratio of 27.37. This valuation marks a premium compared to its industry's average Forward P/E of 26.04.

The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 12% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

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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