In the latest trading session, Coinbase Global, Inc. (COIN – Free Report) closed at $319.89, marking a +0.24% move from the previous day. This change outpaced the S&P 500’s 0.2% gain on the day.
Prior to today’s trading, shares of the company had gained 40.29% over the past month. This has outpaced the Finance sector’s gain of 5.74% and the S&P 500’s gain of 5.66% in that time.
COIN will be looking to display strength as it nears its next earnings release, which is expected to be November 9, 2021.
It is also important to note the recent changes to analyst estimates for COIN. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 1.19% higher within the past month. COIN currently has a Zacks Rank of #3 (Hold).
In terms of valuation, COIN is currently trading at a Forward P/E ratio of 22.93. This valuation marks a discount compared to its industry’s average Forward P/E of 25.29.
The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.