Coinbase Global, Inc. (COIN) closed at $302.20, up 1.05% from the previous day, outperforming the S&P 500. The stock has declined by 3.69% in the past month, underperforming the Finance sector. Market watchers await financial results, forecasting a 67.74% growth in EPS and a 42.19% increase in revenue compared to last year.

Analysts expect Coinbase Global, Inc. to report earnings of $7.01 per share and revenue of $7.03 billion for the fiscal year, with recent estimate revisions reflecting optimism about the company’s performance. The Zacks Rank system, with a current rating of #3 (Hold) for Coinbase, has historically seen strong returns, with #1 stocks averaging +25% annually.

Coinbase Global, Inc. is trading at a Forward P/E ratio of 42.66, higher than the industry average of 11.9. The company operates in the Financial – Miscellaneous Services industry, ranked in the top 22% of all industries by Zacks. With a projected boom in the semiconductor market, a company specializing in this sector is poised for growth, catering to the rising demand for AI, ML, and IoT. Global semiconductor manufacturing is expected to reach $971 billion by 2028.

Read more at Nasdaq: Coinbase Global, Inc. (COIN) Exceeds Market Returns: Some Facts to Consider