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After a tough stretch during the crypto winter, Coinbase has bounced back impressively. The launch of its own blockchain, Base, has been nothing short of revolutionary.
Coinbase shares slipped after a first-quarter results beat, as Mizuho noted the crypto trading platform's strong year-to-date rally, signs of a transaction revenue drop in the coming months and potential regulatory risks. Still, Coinbase CFO Alesia Haas says the company is focused on long-term trends.
Block (SQ) is trading higher after earnings. Diane King Hall discusses this as its adjusted EPS came in at $0.85 versus an estimated $0.62 and revenue came in at $5.96B versus an estimated $5.75B.
Coinbase Global (COIN) surpassed estimates on both earnings and revenues, benefiting from the wave of revival in digital coin trading largely due to the launch of a series of new bitcoin ETFs in January.
Coinbase, the largest U.S.-based cryptocurrency exchange, is ultimately a crypto story. And like all crypto stories, it has its downs — and its wild ups.
Coinbase Global Inc (NASDAQ: COIN) has done exceptionally well over the past three months but it may be as far as its shares go at least in the near term. Ryan Lee shares his view on Bitcoin The crypto stock has outperformed this year partially on the back of a sharp rally in Bitcoin.
Coinbase Global Inc.'s profit for the latest quarter was roughly four times what analysts were expecting. Revenue beat estimates, too.
Wedbush Securities has upgraded its price target for Coinbase Global Inc (NASDAQ:COIN) to $250 from $200 after the cryptocurrency exchange's strong first quarter. Nasdaq-listed Coinbase reported net revenues totalling $1.59 billion for the quarter ended March 31, 2024, compared to $736.4 million for the same period last year.
Waning enthusiasm for crypto could weigh on Coinbase stock more than the business fundamentals.
The cryptocurrency market's infamous volatility played in Coinbase Global Inc (NASDAQ:COIN)'s favour in the last quarter. Nasdaq-listed Coinbase reported net revenues totalling $1.59 billion for the quarter ended March 31, 2024, compared to $736.4 million for the same period last year.