Coinbase Global (NASDAQ:COIN) reports fourth‑quarter results Thursday after the close, with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) trading at sharply different levels than during its last earnings release.
Coinbase Q4 Earnings Estimates
Analysts expect the company to report fourth-quarter revenue of $1.84 billion, down from $2.27 billion a year earlier, according to data from Benzinga Pro. It has beaten revenue estimates in seven of the last 10 quarters, including the most recently reported third quarter.
Analysts expect Coinbase to report earnings per share of $1.05 for the period, down from $3.39 a year earlier. The firm has beaten EPS estimates in nine of the last 10 quarters, including the third quarter.
Coinbase Analyst Ratings And Price Targets
Bank of America Securities analyst Craig Seigenthaler upgraded Coinbase stock from Neutral to Buy in January. The analyst maintained a price target of $340 on the stock.
Siegenthaler said that Coinbase’s increased products and growing total addressable market could help cushion the stock and its financials from the crypto correction in the fourth quarter.
Product expansions include stock and ETF trading and prediction markets, which could …