Coinbase Q3 Preview: Product Diversification, Acquisitions Create ‘A Compelling Opportunity’
Cryptocurrency exchange company Coinbase Global Inc (NASDAQ:COIN) could highlight strong trading volume, as Bitcoin (CRYPTO: BTC) hit new highs in the third quarter, when the company reports quarterly results Thursday after market close.
• COIN is facing resistance from sellers. Get the complete analysis here.
Here are the earnings estimates, what analysts are saying and key items to watch.
Earnings Estimates: Analysts expect Coinbase to report third-quarter revenue of $1.79 billion, up from $1.21 billion in last year’s third quarter, according to data from Benzinga Pro.
The company missed analyst estimates for revenue in two straight quarters, but beat estimates in seven of the past 10 quarters overall.
Analysts expect Coinbase to report third-quarter earnings per share of $1.13, up from 73 cents per share in last year’s third quarter.
The company beat analyst estimates for earnings per share in two straight quarters, while beating estimates in eight of the past 10 quarters overall.
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What Analysts Are Saying: Several analysts have lowered their price targets on Coinbase stock ahead of third-quarter financial results.
Rosenblatt analyst Chris Brendler reiterated a Buy rating on Coinbase, while lowering the price target from $470 to $450.
“We’re lower on Consumer trading volumes, partially offset by higher …
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