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Coinbase Global, Inc. was upgraded to the Zacks Rank #1 list on December 7, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Founded in 2012, Coinbase, Inc. is an American publicly traded company that operates a cryptocurrency exchange platform. It is the largest cryptocurrency exchange in the United States in terms of trading volume. In April 2014, Coinbase, Inc. became a wholly-owned subsidiary of Coinbase Global, Inc. in connection with a corporate reorganization.
For fiscal 2024, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.24 to $5.39 per share. COIN boasts an average earnings surprise of 341.4%.
Analysts are expecting earnings to grow 1356.8% for the current fiscal year, with revenue forecasted to rise 80.6%.
Additionally, COIN has climbed higher over the past four weeks, gaining 26.9%. The S&P 500 is up 2.9% in comparison.
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Coinbase Global, Inc. could be just the stock to help your portfolio generate returns that could fund your retirement, your kids’ college tuition, or your short- and long-term savings goals.
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