According to FactSet estimates, when Coinbase reported earnings after hours on Wednesday, it expected third-quarter revenue to decline by about 13%, from $1.45 billion in the previous quarter to $1.26 billion. At the same time, earnings per share (EPS) are expected to be $0.46, up from $0.14 in the second quarter.
"Coinbase volumes continued to be weak in the quarter, primarily due to weaker retail trading revenues," 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.
Analysts predict that Coinbase's Q3 revenue will decrease by approximately 13% due to lower trading volume and regulatory uncertainty.
2024-10-30 06:58:33
Factset estimate coinbase Wednesday session announcement earnings forecast third quarterdesk3cryptocurrencydesktopCrypto News
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