From Nasdaq: 2024-05-06 09:00:16

Coinbase Global, Inc. (COIN) has seen a -7.3% return over the past month, while the Zacks S&P 500 composite has seen a -1.6% change. Analysts are closely watching earnings estimates, with current projections showing a significant increase of +235.7% for the current quarter and +632.4% for the fiscal year.

The Zacks Rank has rated Coinbase Global a #1 (Strong Buy) due to recent changes in earnings estimates, indicating a positive price direction in the near term. Revenue growth forecasts for the company show a year-over-year change of +60.4% for the current quarter and +48.4% for the current fiscal year.

Recent reports from Coinbase Global reveal strong revenue growth, with revenues increasing by +112% in the last reported quarter. The company has consistently beat consensus EPS estimates in the past four quarters. However, the company is currently trading at a premium to its peers, receiving an F grade from the Zacks Value Style Score.

The Zacks Rank suggests that Coinbase Global may outperform the broader market in the near term, despite being evaluated as overvalued compared to its peers. Investors can access all Zacks picks for just $1 and explore services like Surprise Trader and Technology Innovators to make informed decisions.

Read more at Nasdaq: Here is What to Know Beyond Why Coinbase Global, Inc. (COIN) is a Trending Stock