Coinbase Global (COIN) stock has dropped -15.2% in past month, with mixed analyst projections.

From Nasdaq
September 20, 2024 09:00 AM:

Coinbase Global, Inc. (COIN) is closely watched by Zacks.com visitors. The stock has dropped -15.2% in the past month, compared to the Zacks S&P 500 composite’s +2.1% change. Analysts expect earnings of $0.49 per share for the current quarter, a 5,000% increase year-over-year. The Zacks Rank is currently at #3 (Hold).

Earnings estimate revisions are a key factor in determining a stock’s future direction. Positive revisions lead to higher fair value and increased investor interest. Coinbase Global is expected to post earnings growth of +1,305.4% for the current fiscal year. However, estimates for the next fiscal year indicate a -61.2% change.

Revenue growth is crucial for a company’s financial health. Coinbase Global is projected to see an 87.2% increase in sales for the current quarter. With a Zacks Value Style Score of F, the stock is trading at a premium to its peers, indicating potential overvaluation. This suggests Coinbase Global may perform in line with the broader market in the near term.

Read more at Nasdaq: Is Trending Stock Coinbase Global, Inc. (COIN) a Buy Now?