Coinbase Global, Inc. (COIN) Gains As Market Dips: What You Should Know

Coinbase Global, Inc. (COIN) closed at $256.79 in the latest trading session, marking a +1.66% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, added 0.33%.

Coming into today, shares of the company had lost 14.23% in the past month. In that same time, the Finance sector gained 2.2%, while the S&P 500 gained 3.11%.

Investors will be hoping for strength from Coinbase Global, Inc. as it approaches its next earnings release.

It is also important to note the recent changes to analyst estimates for Coinbase Global, Inc.Recent revisions tend to reflect the latest 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. 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 remained stagnant within the past month. Coinbase Global, Inc. is currently a Zacks Rank #3 (Hold).

Investors should also note Coinbase Global, Inc.'s current valuation metrics, including its Forward P/E ratio of 17.97. This valuation marks 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 69, putting it in the top 28% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Bitcoin, Like the Internet Itself, Could Change Everything

Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.

Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. 

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.