Earnings Estimates and Analyst Expectations
Cryptocurrency platform Coinbase Global (COIN) is set to release its Q3 2024 financial results, coinciding with Bitcoin (BTC) trading near all-time highs. Analysts project the following:
- Revenue: $1.25 billion (up from $674.2 million YoY).
- EPS: 43 cents (vs. a loss of 1 cent YoY).
Coinbase has beaten revenue estimates for seven consecutive quarters and EPS estimates for six straight quarters. A continuation of this streak could bolster investor confidence.
Key Analyst Insights
Mike Colonnese of H.C. Wainwright notes:
"Consensus estimates appear safe given intra-quarter crypto trends. We remain bullish due to Coinbase’s ecosystem dominance and the post-Bitcoin halving cycle."
Other analyst actions:
- JMP Securities: Reiterated "Market Outperform" ($320 target).
- Barclays: Raised price target to $175 (Equal-weight).
👉 Discover how Bitcoin’s surge impacts crypto stocks
What Investors Should Watch
- Bitcoin’s Price Influence: With BTC near highs, expect commentary on Q4 momentum.
- Revenue Diversification: Subscription/services growth vs. transaction revenue.
- Altcoin Performance: Breakdown of transaction revenue between BTC, ETH, and other tokens.
- Institutional Demand: Updates on Bitcoin ETF inflows and corporate adoption.
FAQ Section
Q: How reliable are Coinbase’s earnings beats?
A: The company has surpassed revenue estimates consistently since Q4 2022.
Q: Could Bitcoin’s rally offset potential Q3 misses?
A: Yes—higher crypto volumes often translate to stronger transaction revenue.
Q: What’s the long-term outlook for COIN stock?
A: Analysts highlight its positioning in the crypto cycle, with 12-month upside potential.
Price Action & Market Performance
- Recent Close: $219.66 (+1.65% on Tuesday).
- YTD Gain: 40%.
- 52-Week Range: $71.88–$283.48.
👉 Explore crypto market trends
Note: All links unrelated to OKX have been removed per guidelines.
### SEO Keywords:
- Coinbase Q3 earnings
- Bitcoin all-time high
- Cryptocurrency revenue
- COIN stock analysis
- Crypto market trends