Wall Street analysts expect Coinbase's Q3 revenue to be affected by lower trading volumes and regulatory uncertainty
2024-10-29 21:31:23
Wall Street analysts expect spot trading volumes at Coinbase (COIN) to slow further in the third quarter, in part due to the lack of a catalyst for cryptocurrencies and uncertain regulatory environments ahead of the presidential election. The cryptocurrency exchange, which will report after-hours earnings on Wednesday, expects third-quarter revenue to drop about 13 percent, to $1.26 billion from $1.45 billion in the previous quarter, according to estimates from FactSet. Meanwhile, earnings per share (EPS) are expected to be $0.46, up from $0.14 in the second quarter. "Volumes are expected to remain weak in the quarter, primarily due to lower retail trading revenue," Barclays analyst Benjamin Buddish wrote in a note. He rated the stock equally and raised his price target to $175 from $169, while lowering his third-quarter earnings per share forecast to $1.05 from $1.62.
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
华尔街分析师预计Coinbase Q3收入可能因交易量下降和监管不确定性而受到影响Next article：
加密PAC斥资76万美元支持威斯康星众议员Bryan Steil连任
