bitcoin
bitcoin

$97928.667967 USD

1.22%

ethereum
ethereum

$3586.652918 USD

3.77%

xrp
xrp

$2.446084 USD

-0.05%

tether
tether

$0.999625 USD

0.05%

solana
solana

$216.196397 USD

4.27%

bnb
bnb

$718.437334 USD

1.95%

dogecoin
dogecoin

$0.385963 USD

13.59%

usd-coin
usd-coin

$0.999956 USD

-0.02%

cardano
cardano

$1.083953 USD

6.80%

tron
tron

$0.266518 USD

0.52%

avalanche
avalanche

$41.666586 USD

4.81%

chainlink
chainlink

$23.108475 USD

4.51%

sui
sui

$4.893575 USD

11.90%

toncoin
toncoin

$5.759630 USD

1.74%

shiba-inu
shiba-inu

$0.000024 USD

7.35%

Cryptocurrency News Articles

Coinbase Set to Smash Earnings as Analysts Exude Bullish Sentiment

Apr 25, 2024 at 10:09 pm

Coinbase Global, Inc. is anticipated to report a substantial year-over-year increase in earnings on higher revenues for the quarter ending March 2024, according to Wall Street analysts. The consensus EPS estimate is $0.89, reflecting a 493.3% increase, while revenues are projected to reach $1.2 billion, a 55.5% rise. Analysts have recently become more optimistic about the company's earnings potential, as indicated by an Earnings ESP of +36.53% and a Zacks Rank of #1, suggesting a strong likelihood of an earnings beat.

Coinbase Set to Smash Earnings as Analysts Exude Bullish Sentiment

Coinbase Global Poised for Earnings Beat Amidst Bullish Analyst Sentiment

New York, April 21, 2024 - Coinbase Global, Inc. (COIN), the leading cryptocurrency exchange platform, is anticipated to deliver a significant earnings increase when it reports its financial results for the quarter ended March 2024. Industry experts predict a year-over-year surge in earnings, driven by robust revenue growth.

Consensus Outlook

According to Zacks Consensus Estimates, Coinbase Global is projected to post quarterly earnings of $0.89 per share, marking a remarkable 493.3% growth compared to the corresponding period last year. This estimate represents a substantial 27.15% upward revision over the past 30 days, reflecting increased optimism among covering analysts.

The company's revenue is also anticipated to witness a significant 55.5% year-over-year increase to $1.2 billion. This surge in revenue signals the continued expansion of Coinbase's user base and the growing adoption of digital assets.

Earnings Surprise Potential

The Zacks Earnings Earnings ESP (Expected Surprise Prediction) model provides insights into the potential deviation of the actual earnings from the consensus estimate. For Coinbase Global, the Most Accurate Estimate, a more recent version of the Zacks Consensus EPS estimate, stands higher than the consensus, resulting in an Earnings ESP of +36.53%.

This positive Earnings ESP, combined with Coinbase Global's Zacks Rank of #1 (Strong Buy), significantly increases the likelihood of an earnings beat. Historically, stocks with this combination have a high probability of delivering positive earnings surprises.

Historical Beat Performance

Coinbase Global has a solid track record of exceeding consensus EPS estimates, having done so in four out of the last four quarters. In the most recent quarter, the company surpassed analysts' expectations by a remarkable 1,255.56%. This consistent performance underscores Coinbase's ability to deliver strong financial results despite market fluctuations.

Investment Implications

While an earnings beat or miss alone does not guarantee a stock's price movement, betting on companies with high Earnings ESP and Zacks Rank increases the odds of success. Coinbase Global's compelling combination of positive Earnings ESP and Zacks Rank #1 positions it as a strong earnings-beat candidate.

Investors should note that other factors, such as overall market conditions and company-specific developments, can also influence stock performance. Nevertheless, Coinbase Global's strong earnings outlook and historical beat performance suggest a favorable investment opportunity for those seeking to capitalize on the company's growth potential.

Upcoming Earnings Release

Coinbase Global is scheduled to release its financial results for the quarter ended March 2024 on May 2, 2024, after the market closes. Investors are eagerly awaiting this earnings announcement to assess the company's financial performance and gain insights into its future prospects.

Stay Informed with Zacks Earnings Calendar

Stay abreast of upcoming earnings announcements by using the Zacks Earnings Calendar. This invaluable tool provides a comprehensive schedule of earnings release dates and consensus estimates for a wide range of companies. Stay informed and make informed investment decisions with the Zacks Earnings Calendar.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Other articles published on Jan 04, 2025