COIN

Bitcoin ETF

Coinbase Stock

Coinbase Global Inc (NASDAQ:COIN) is gearing up to unveil its fourth-quarter financial results after the market closes on Thursday, February 15. Ahead of the earnings, the <a href="https://coingape.com/coinbase-news-crypto-stocks-surge-as-bitcoin-tops-51k-rally-to-sustain/" target="_blank" rel="noopener noreferrer nofollow">Coinbase stock</a> witnessed a 7% jump in the pre-market session on Thursday. Moreover, speculations are swirling around whether Coinbase would beat the Wall Street estimates or fall short.
<h2 id="strong-will-coinbase-earnings-beat-wall-street-estimates-strong">Will Coinbase Earnings Beat Wall Street Estimates?</h2>
Wall Street analysts are eyeing a fourth-quarter revenue projection of $822.36 million for Coinbase, marking a notable increase from last year’s figure of $629.11 million. Notably, the <a href="https://coingape.com/exclusive-coinbase-full-year-results-likely-to-disappoint-the-market/" target="_blank" rel="noopener noreferrer nofollow">Coinbase earnings</a> report has consistently outperformed revenue forecasts over the past four quarters.
Expectations are for Coinbase to report a marginal loss of 1% share in the fourth quarter of FY24, a significant improvement from the $2.46 loss reported in the same period last year. However, the company has a mixed track record when it comes to meeting analysts’ earnings per share estimates.
Although <a href="https://coingape.com/coinbase-coin-next-in-cathie-woods-ark-invest-radar-after-this-crypto-stock-buy/" target="_blank" rel="noopener noreferrer nofollow">Coinbase</a> did not provide specific revenue guidance for the fourth quarter, it anticipates flat subscription and services revenue compared to the previous quarter’s $334.4 million. Meanwhile, analysts at Oppenheimer recently upgraded Coinbase from Perform to Outperform. Moreover, they cited optimism surrounding the company’s ongoing legal battle with the SEC and the potential positive impact of Bitcoin ETF approvals.
Conversely, <a href="https://coingape.com/former-jpmorgan-head-koukorinis-moves-to-gsr-for-crypto-push/" target="_blank" rel="noopener noreferrer nofollow">JPMorgan</a> analyst Kenneth B. Worthington downgraded Coinbase from Neutral to Underweight, expressing disappointment with the initial performance of Bitcoin ETF trading. Despite differing opinions, analysts generally acknowledge Coinbase’s strong position within the crypto sector and its potential for growth.
Also Read:&nbsp;<a href="https://coingape.com/cathie-wood-ark-invest-sells-214068-coinbase-shares-before-earnings/" target="_blank" rel="noopener noreferrer nofollow">Breaking: Cathie Wood’s Ark Invest Sells 214,068 Coinbase Shares Ahead Earnings</a>
<h2 id="analyst-ratings-for-coin-stock">Analyst Ratings For COIN Stock</h2>
Propelled by the bullish rally of Bitcoin (BTC) and the entire crypto market, the <a href="https://coingape.com/crypto-stocks/coin/" target="_blank" rel="noopener noreferrer nofollow">COIN stock</a> surged significantly today. In the pre-market session, the Coinbase stock surged 7.11% to $171.10 at press time. Earlier, the stock gained 14.24% and closed at $160.38 on Wednesday, registering a major uptick ahead of earnings.
Whilst, Needham analyst John Todaro, for instance, has a Buy rating on the stock and raised the price target to $180, highlighting factors such as product growth, international expansion, and the launch of the Base Ethereum Layer 2 chain.
Other notable analyst actions in January include Citigroup’s Neutral rating with a price target increase to $151, Mizuho’s Underperform rating with a raised price target to $60, and Wedbush’s Outperform rating with a price target increase to $180.
Investors will closely watch the impact of the <a href="https://coingape.com/bitcoin-etf-net-inflow-slows-340-mln-what-next-btc-price/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETF</a> launch on Coinbase’s earnings report, as well as the company’s efforts in international expansion and diversification of cryptocurrencies. With Bitcoin and Ethereum being significant contributors to the crypto exchange’s trading volume and transaction revenue, any changes in their dynamics could have notable implications for the company’s financial performance moving forward.
Also Read:&nbsp;<a href="https://coingape.com/robinhood-revenue-up-10-to-43m-boosts-coinbase-speculation/" target="_blank" rel="noopener noreferrer nofollow">Robinhood Revenue Up 10% to $43M, Boosts Coinbase Speculation</a>
The post <a href="https://coingape.com/coinbase-stock-rallies-pre-market-will-earnings-beat-wall-street-estimates/" rel="noopener noreferrer nofollow">Coinbase Stock Rallies 7% Pre-Market, Will Earnings Beat Wall Street Estimates?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Coinbase Stock Rallies 7% Pre-Market, Will Earnings Beat Wall Street Estimates?

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