For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Coinbase Global, Inc. (COIN) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Coinbase Global, Inc. is a member of the Finance sector. This group includes 867 individual stocks and currently holds a Zacks Sector Rank of #12. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Coinbase Global, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for COIN's full-year earnings has moved 24.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, COIN has moved about 77% on a year-to-date basis. In comparison, Finance companies have returned an average of -1.8%. This shows that Coinbase Global, Inc. is outperforming its peers so far this year.
Banco Do Brasil SA (BDORY) is another Finance stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 8.4%.
For Banco Do Brasil SA, the consensus EPS estimate for the current year has increased 13.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Coinbase Global, Inc. belongs to the Securities and Exchanges industry, a group that includes 8 individual stocks and currently sits at #49 in the Zacks Industry Rank. On average, this group has gained an average of 5.9% so far this year, meaning that COIN is performing better in terms of year-to-date returns.
On the other hand, Banco Do Brasil SA belongs to the Banks - Foreign industry. This 67-stock industry is currently ranked #18. The industry has moved +1% year to date.
Investors interested in the Finance sector may want to keep a close eye on Coinbase Global, Inc. and Banco Do Brasil SA as they attempt to continue their solid performance.
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