Coinbase Global, Inc. (COIN) closed the most recent trading day at $300.84, moving +0.28% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.11%.

Prior to today's trading, shares of the company had gained 26.32% over the past month. This has outpaced the Finance sector's gain of 7.3% and the S&P 500's gain of 4.61% in that time.

Wall Street will be looking for positivity from COIN as it approaches its next earnings report date. This is expected to be November 9, 2021.

Investors might also notice recent changes to analyst estimates for COIN. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 1.45% higher. COIN is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, COIN currently has a Forward P/E ratio of 21.5. Its industry sports an average Forward P/E of 24.79, 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 group has a Zacks Industry Rank of 174, putting it in the bottom 32% 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.

To follow COIN in the coming trading sessions, be sure to utilize Zacks.com.

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Coinbase Global, Inc. (COIN) : Free Stock Analysis Report
 
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