Coinbase Global, Inc. (COIN) closed at $344.45 in the latest trading session, marking a +0.02% move from the prior day. The stock lagged the S&P 500’s daily gain of 0.42%.
Coming into today, shares of the company had gained 37.54% in the past month. In that same time, the Finance sector gained 6.34%, while the S&P 500 gained 7.03%.
COIN will be looking to display strength as it nears its next earnings release, which is expected to be November 9, 2021.
Investors might also notice recent changes to analyst estimates for COIN. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.61% higher. COIN is currently a Zacks Rank #3 (Hold).
Looking at its valuation, COIN is holding a Forward P/E ratio of 24.74. This represents a discount compared to its industry’s average Forward P/E of 25.83.
The Securities and Exchanges industry is part of the Finance sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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