Coinbase Inc. stock closed slightly higher, underperformed market, but analysts optimistic about earnings.

From Nasdaq
September 13, 2024 5:45pm:

In the latest trading session, Coinbase Global, Inc. (COIN) closed at $163.05, up 0.1%. The stock underperformed the S&P 500, which saw a 0.54% gain. Over the past month, COIN shares dropped 17.37%, while the Business Services sector and S&P 500 gained 7.34% and 4.86% respectively.

Investors are eagerly awaiting Coinbase’s upcoming earnings release, with a predicted EPS of $0.49, a 5000% increase from last year. Revenue is estimated to be $1.26 billion, up 87.23%. Analysts have made positive estimate revisions, reflecting optimism about the company’s profitability and subsequent stock price performance.

Coinbase Global, Inc. currently has a Zacks Rank of #3 (Hold), with an average annual return of +25% for #1 (Strong Buy) stocks. The stock has a Forward P/E ratio of 31.34, indicating a premium compared to the industry average of 16.6. The Financial Transaction Services industry ranks in the top 31% of all industries.

Looking ahead, the semiconductor industry is poised for growth, as the demand for Artificial Intelligence and Machine Learning rises. Global semiconductor manufacturing is projected to reach $803 billion by 2028. Investors can track important stock metrics using Zacks.com during upcoming trading sessions.

Read more at Nasdaq.: Coinbase Global, Inc. (COIN) Advances But Underperforms Market: Key Facts