From Nasdaq: 2024-06-11 08:44:00

Coinbase Global, Inc.’s COIN shares have surged by 394.8% in the past year, outperforming the industry’s 36% growth. The Finance sector and Zacks S&P 500 index saw gains of 20.9% and 23.2%, respectively. With a market cap of $61.34 billion, the average trading volume in the last three months was 9.92 million.

The rally was driven by higher average fees, growing crypto asset prices, investments in technology, improved trading, and international expansion. Coinbase Global has a Zacks Rank #1 (Strong Buy) and a track record of beating earnings estimates by an average of 364.63%.

Analysts are optimistic, with estimates for Coinbase Global’s 2024 earnings per share indicating a 1,840.54% increase, and revenues expected at $5.70 billion, an 83.51% improvement. The company’s focus on adapting to market trends, expanding operations globally, and growing revenue streams like trading fees and Stablecoins bodes well for its future growth.

Read more at Nasdaq: Coinbase Global (COIN) Up 394.8% in a Year: Will the Rally Last?