尽管乐观的Q4收入报告，Coinbase（硬币）股票下跌

Coinbase Global Inc（硬币）的股票在周五的交易较低，即使该公司报告了乐观的第四季度收入。该公司在一个令人兴奋的收入季节报告了其季度业绩。这是一些关键的分析师外卖。

Coinbase Global Inc (NASDAQ:COIN) shares were seen trading lower on Friday, despite the company reporting upbeat fourth-quarter revenues.

Coinbase Global Inc（NASDAQ：COIN）的股票在周五的交易较低，尽管该公司报告了乐观的第四季度收入。

The company announced its quarterly results as a part of an exciting earnings season. Here are some key analyst takeaways.

该公司作为令人兴奋的收入季节的一部分宣布了季度业绩。这是一些关键的分析师外卖。

Goldman Sachs on Coinbase Global

Goldman Sachs在Coinbase Global上

Analyst Will Nance reiterated a Neutral rating, while increasing the price target from $340 to $350.

分析师将重申中性评级，同时将目标目标从340美元提高到350美元。

Coinbase Global’s fourth-quarter total revenue reached $2.272 billion, exceeding the consensus estimate of $1.862 billion by 22%, Nance wrote. Transaction revenues beat consensus by 33%, while subscription and services revenue came in 6% above, he added.

Nance写道，Coinbase Global的第四季度总收入达到22.72亿美元，超过了共识估计为18.62亿美元，至22％。他补充说，交易收入比共识达到33％，而订阅和服务收入上面有6％。

The strong results were driven by volume growth and sequentially flat take rate, the analyst stated. "Against the stronger topline growth, the company demonstrated prudent opex control, with EBITDA margins approaching 57% in the quarter," he further wrote.

分析师说，强大的结果是由体积增长和依次平坦的速度驱动的。他进一步写道：“对于更强大的顶级增长，该公司表现出了审慎的OPEX控制，EBITDA的利润率在本季度接近57％。”

Canaccord Genuity on Coinbase Global

Coinbase Global上的Canaccord Genuity

Analyst Joseph Vafi maintained a Buy rating, while raising the price target from $280 to $400.

分析师约瑟夫·瓦菲（Joseph Vafi）保持了买入评级，同时将目标目标从280美元提高到400美元。

Coinbase Global's revenues grew by 88% sequentially to $2.3 billion and adjusted EBITDA came in at $1.3 billion, Vafi said. "We believe this level of inherent profitability in the COIN model should be highlighted and we believe there is more operating leverage in a scenario where revenue moves higher," he wrote.

Vafi说，Coinbase Global的收入依次增长了88％，达到23亿美元，调整后的EBITDA的收入为13亿美元。他写道：“我们认为，在硬币模型中的这种固有的盈利能力应该得到强调，我们认为在收入更高的情况下，运营杠杆率更高。”

The company continues to gain market share, despite not being the lowest cost service provider, the analyst stated. The midpoint of management's first-quarter guidance for subscription and service revenue came in at $725 million, implies 13% sequential growth, he added.

分析师说，尽管不是成本服务提供商最低的，该公司仍继续获得市场份额。他补充说，订阅和服务收入的第一季度指南的中点为7.25亿美元，这意味着顺序增长了13％。

Check out other analyst stock ratings.

查看其他分析师库存评级。

JMP Securities on Coinbase Global

Coinbase Global上的JMP证券

Analyst Devin Ryan reaffirmed a Market Outperform rating, while lifting the price target from $400 to $475.

分析师德文·瑞安（Devin Ryan）重申了市场的表现，同时将目标目标从400美元提升到475美元。

Coinbase Global's revenues grew 138% year-on-year to $2.3 billion and adjusted EBITDA by nearly 300% to $1.3 billion, Ryan said. "Coinbase exited 2024 with enormous business momentum," he wrote.

瑞安说，Coinbase Global的收入同比增长138％，至23亿美元，并将EBITDA调整了近300％，达到13亿美元。他写道：“ Coinbase以巨大的业务动力离开了2024年。”

Coinbase is benefiting from improving sentiment for the broader digital asset industry, the analyst stated. Management indicated that transaction activity had continued to grow at the same rate as in the fourth quarter, while projecting 13% sequential growth in Subscription & Services revenue for the first quarter, he added.

分析师说，Coinbase受益于改善广泛数字资产行业的情感。管理层表示，交易活动的增长率与第四季度相同，同时预计第一季度的订阅和服务收入的顺序增长13％。

HC Wainwright on Coinbase Global

HC Wainwright在Coinbase Global上

Analyst Mike Colonnese reiterated a Buy rating, while increasing the price target from $330 to $350.

分析师Mike Colonnese重申了买入评级，同时将价格目标从330美元提高到350美元。

Coinbase Global continued to gain market share in a quarter that was strong for the broader crypto industry, Colonnese said. The company listed 13 new assets on the platform, which helped drive the 24% sequential rise in monthly transacting users (MTUs) in the quarter to 9.7 million.

Colonnese说，Coinbase Global继续在四分之一的市场份额中获得市场份额，这对更广泛的加密货币行业来说是强大的。该公司在该平台上列出了13个新资产，这有助于在本季度将每月交易用户（MTU）的24％顺序上升提高到970万。

"4Q call was the most bullish we have heard management on the future of crypto in the U.S.," the analyst wrote. The company guided to strong Subscription and Services revenue growth due to higher expected Stablecoin revenue, higher crypto asset prices and Coinbase One user growth, he further stated.

这位分析师写道：“ 4Q电话是我们对美国加密货币未来的管理层的最看涨。”他进一步指出，该公司指导了由于预期的Stablecoin收入，更高的加密资产价格和Coinbase One用户增长而导致强劲的订阅和服务收入增长。

COIN Price Action: Shares of Coinbase Global were down 6.5% to $278.60 at the time of publication on Friday.

硬币价格行动：周五出版时，Coinbase Global的股票下跌6.5％，至278.60美元。

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