COIN stock price down slightly as market sees gains, but strong earnings projections.

From Nasdaq Corporation

October 08, 2024 05:45:21 PM:

Coinbase Global, Inc. (COIN) closed trading at $167.69, down 0.73% from the previous session, while the S&P 500, Dow, and Nasdaq saw gains. Shares of COIN rose 8.95% in the past month, outperforming the sector and S&P 500. Earnings projections show a year-over-year growth of 3800%.

Analysts forecast earnings of $0.37 per share for Coinbase Global, Inc. with revenue estimates of $1.26 billion, reflecting an 87.23% growth from the previous year. Zacks Consensus Estimates predict annual earnings of $5.20 per share and revenue of $5.66 billion, showing significant shifts from last year.

The Zacks Rank for COIN currently stands at #5 (Strong Sell), with a Forward P/E ratio of 32.5. The Financial Transaction Services industry, where Coinbase operates, has a Zacks Industry Rank of 102, placing it in the top 41% of all industries. Companies with positive analyst estimate revisions tend to see favorable stock price performance.

Read more at Nasdaq, Inc.: Coinbase Global, Inc. (COIN) Stock Dips While Market Gains: Key Facts