With an impressive externally audited track record, our proprietary stock rating tool - the Zacks Rank - is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. Over the past month, the estimate has changed +13.3%. This estimate has changed +9.5% over the last 30 days.įor the next fiscal year, the consensus earnings estimate of -$2.30 indicates a change of +14.2% from what Coinbase Global, Inc. The consensus earnings estimate of -$2.68 for the current fiscal year indicates a year-over-year change of +77.4%. Over the last 30 days, the Zacks Consensus Estimate has changed +8.3%. is expected to post a loss of $0.78 per share for the current quarter, representing a year-over-year change of +84.2%. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.Ĭoinbase Global, Inc. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. And if earnings estimates go up for a company, the fair value for its stock goes up. We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock. Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making. Now the key question is: Where could the stock be headed in the near term? belongs, has gained 8.1% over this period. The Zacks Securities and Exchanges industry, to which Coinbase Global, Inc. ![]() Shares of this company have returned +83.2% over the past month versus the Zacks S&P 500 composite's +3.4% change. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. ( COIN Quick Quote COIN - Free Report) has recently been on 's list of the most searched stocks. His criminal trial is likely to be in the fall.Coinbase Global, Inc. prosecutors and the SEC charged FTX’s founder Sam Bankman-Fried with a host of money laundering, fraud and securities fraud charges in December. ![]() Grewal, director of the SEC’s Division of Enforcement, in a prepared statement. ![]() “You simply can’t ignore the rules because you don’t like them or because you’d prefer different ones: the consequences for the investing public are far too great,” said Gurbir S. The SEC had warned Coinbase in March that it could face securities charges and had long signaled that Coinbase had been flouting securities laws with its position that cryptocurrencies were not securities and therefore did not need to register as a broker. In the meantime, we’ll continue to operate our business as usual.” The solution is legislation that allows fair rules for the road to be developed transparently and applied equally, not litigation. “The SEC’s reliance on an enforcement-only approach in the absence of clear rules for the digital asset industry is hurting America’s economic competitiveness and companies like Coinbase that have a demonstrated commitment to compliance,” said Paul Grewal, chief legal officer and general counsel for Coinbase, said in a written statement. Coinbase said the SEC has not been transparent in how it regulates cryptocurrencies.
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