Coinbase (COIN) Stock Soars 70.9% YTD, Significantly Outperforming Industry and Broader Market Benchmarks

Shares of Coinbase Global Incorporated (COIN) have soared 70.9% quarter-to-date, significantly outperforming its industry, sector, and the broader S&P 500 Index.

Coinbase (NASDAQ:COIN) stock closed higher on Wednesday evening as cryptocurrencies found support from lower levels. Bitcoin was trading at $96,464, almost 5 percent higher while Ethereum was trading positive by 9 percent. The rally in Ethereum will offer additional support to altcoins and other cryptocurrencies.

Coinbase stock performance largely depends on the sentiment in cryptocurrency markets. The stock is trading near its yearly highs as recent surge in cryptocurrencies means that Coinbase will register stronger trading volume in the upcoming quarters. Zacks Research has suggested investors to wait for lower levels for Coinbase stock for fresh entry. Those holding the stock already, could hold for short term to get a better exit point, as per Zacks research team.

Here's a snapshot of COIN's key stock metrics and recent performance:

Coinbase Global stock price closed at 86.95 with a gain of 0.27% on Wednesday. COIN stock trades on an average volume of 10.89M shares with a total market capitalization of 76.34B as of 29 March 2023.

Coinbase stock price rallied 70.9% over the quarter, outperforming its industry, sector, and the broader S&P 500 Index.

Coinbase stock price is up 1301.3% year-over-year, lagging behind its industry, sector, and the S&P 509 Index.

Coinbase stock price has a 50 day moving average of 69.83 and a 200 day moving average of 46.8.

Coinbase stock price is down -1.9% over the past 5 days, lagging behind its industry, sector, and the broader S&P 500 Index.

Coinbase stock price is up 70.9% for the quarter, outperforming its industry, sector, and the S&P 500 Index.

Coinbase stock price has a 52 week high of 104.8 and a 52 week low of 27.68.

Coinbase stock price trades at a trailing price-to-earnings (PE) multiple of 30.3x, lower than its industry average of 35.86x.

Coinbase stock price has a price-to-book (PB) multiple of 3.03x, lower than its industry average of 3.68x.

Coinbase stock price trades at a price-to-sales (PS) multiple of 6.04x, lower than its industry average of 7.18x.

Coinbase stock price has a price-to-cash (PC) multiple of 16.03x, higher than its industry average of 11.88x.

Coinbase stock price trades at a price-to-tangible book (PTB) multiple of 26.96x, higher than its industry average of 20.03x.

Coinbase Global stock price has a 50 day moving average of 69.83 and a 200 day moving average of 46.8.

Coinbase Global stock price is up 1301.3% year-over-year, lagging behind its industry, sector, and the S&P 509 Index.

Coinbase Global stock price has a 52 week high of 104.8 and a 52 week low of 27.68.

Coinbase Global stock price trades at a trailing price-to-earnings (PE) multiple of 30.3x, lower than its industry average of 35.86x.

Coinbase Global stock price has a price-to-book (PB) multiple of 3.03x, lower than its industry average of 3.68x.

Coinbase Global stock price trades at a price-to-sales (PS) multiple of 6.04x, lower than its industry average of 7.18x.

Coinbase Global stock price has a price-to-cash (PC) multiple of 16.03x, higher than its industry average of 11.88x.

Coinbase Global stock price trades at a price-to-tangible book (PTB) multiple of 26.96x, higher than its industry average of 20.03x.