Coinbase Global, Inc. (COIN) Outpaces Stock Market Gains: What You Should Know

In the latest trading session, Coinbase Global, Inc. (COIN) closed at $224.96, marking a +1.97% move from the previous day. This change outpaced the S&P 500’s 1.52% gain on the day.

Heading into today, shares of the company had lost 0.89% over the past month, outpacing the Finance sector’s loss of 1.08% and lagging the S&P 500’s gain of 2.41% in that time.

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

It is also important to note the recent changes to analyst estimates for COIN. 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 shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% 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.

Valuation is also important, so investors should note that COIN has a Forward P/E ratio of 24.38 right now. Its industry sports an average Forward P/E of 25.01, so we one might conclude that COIN is trading at a discount comparatively.

The Securities and Exchanges industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 27% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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