Published on 1 May 2024 on Zacks via Yahoo Finance
Should You Add Coinbase (COIN) to Your Kitty Before Q1 Earnings?
Coinbase COIN is set to report first-quarter 2024 earnings on May 2, after market close. The Zacks Consensus Estimate for first-quarter earnings per share is pegged at 89 cents on revenues of $1.2 billion. The top- and bottom-line estimates imply year-over-year improvements of 493.3% and 55.5%, respectively.Per our proven model, stocks with a combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) are likely to beat on earnings. At present, Coinbase has an Earnings ESP of +36.53% and a Zacks Rank of 1. Hence, it is presumed that Coinbase is likely to beat estimates this earnings season.You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Price Performance
Year to date, shares of Coinbase have rallied 17% against the industry’s 0.8% decrease. The Finance sector has risen 0.3% in the said time frame, while the Zacks S&P 500 composite has risen 6%.