The IBD SmartSelect Composite Rating for Coinbase Global (COIN) rose from 93 to 96 Wednesday. Is Coinbase Global stock on your radar?
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The upgrade means Coinbase Global stock is now outpacing 96% of all other stocks in terms of key performance metrics and technical strength. The best stocks tend to have a 95 or better grade as they kick off a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Is Coinbase Global Stock In The Buy Zone?
Coinbase Global stock is not currently near a proper buy zone. Look for the stock to form and break out of a new chart pattern.
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One weak spot is the company’s 74 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it’s in the top 20% of all stocks.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.
In Q2, the cryptocurrency exchange operator reported 5,000% earnings growth. That means it’s now posted two straight quarters of rising EPS growth. Revenue growth increased 1,095%, up from 845% in the prior quarter. That marks four quarters of rising growth. The company’s next quarterly report is expected on or around Oct. 28.
Coinbase Global stock holds the No. 1 rank among its peers in the Computer Software-Financial industry group. Intuit (INTU) and Intelligent Systems (INS) are also among the group’s highest-rated stocks.
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