IIn the last trading session, Coinbase Global, Inc. (COIN) closed at $ 258.26, marking a movement of +1.08% from the previous day. The stock topped the S&P 500 daily gain by 0.17%.
Prior to today’s session, the company’s shares had gained 4.59% over the past month. This topped the financial sector’s 0.4% gain and the S&P 500’s 1.84% gain during this period.
Investors are hoping COIN will gain strength as it approaches its next earnings release, which is expected to be August 10, 2021.
Any recent changes in analysts’ estimates for COIN should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with short-term stock price dynamics. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes these rating 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 and externally verified track record of outperformance, with # 1 stocks returning an average of + 25% per year since 1988. The Zacks Consensus The EPS estimate has remained stagnant over the past month. COIN currently has a Zacks rank of # 4 (Sell).
Looking at its valuation, COIN holds a forward P / E ratio of 28.23. Its industry has an average forward P / E of 25.07, so one could conclude that COIN is trading at a comparatively premium.
The securities and stock exchange industry is part of the finance industry. This group has a Zacks Industry Rank of 230, which places it in the bottom 10% of the 250+ industries.
The Zacks Industry Rankings assesses the strength of our individual industry groups by measuring the average Zacks rank of individual stocks within the groups. Our research shows that the top 50% of industries top the bottom half by a factor of 2 to 1.
To follow COIN in future trading sessions, be sure to use Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.