Wall Street analysts expect Coinbase Global, Inc. (COIN) to post quarterly earnings of $1.15 per share in its upcoming report, which indicates a year-over-year decline of 66.1%. Revenues are expected to be $1.85 billion, down 18.8% from the year-ago quarter.
The consensus EPS estimate for the quarter has undergone a downward revision of 6.2% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain Coinbase Global metrics that are commonly tracked and forecasted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Net Revenue- Total Subscription and services' of $754.65 million. The estimate points to a change of +17.7% from the year-ago quarter.
The average prediction of analysts places 'Other revenue' at $73.68 million. The estimate suggests a change of -1.2% year over year.
The combined assessment of analysts suggests that 'Net Revenue- Transaction revenue' will likely reach $1.03 billion. The estimate indicates a year-over-year change of -33.6%.
The consensus among analysts is that 'Net revenue' will reach $1.79 billion. The estimate indicates a change of -18.5% from the prior-year quarter.
Analysts predict that the 'Net Revenue- Subscription and services- Blockchain' will reach $181.61 million. The estimate indicates a year-over-year change of -15.5%.
Based on the collective assessment of analysts, 'Net Revenue- Subscription and services- Other subscription and services' should arrive at $147.41 million. The estimate indicates a year-over-year change of +61.3%.
Analysts expect 'Net Revenue- Subscription and services- Interest and finance fee income' to come in at $58.40 million. The estimate suggests a change of -11.1% year over year.
According to the collective judgment of analysts, 'Net Revenue- Subscription and services- Stablecoin Revenue' should come in at $366.91 million. The estimate suggests a change of +62.4% year over year.
Analysts' assessment points toward 'Net Revenue- Transaction revenue- Institutional, net' reaching $177.51 million. The estimate points to a change of +25.6% from the year-ago quarter.
Analysts forecast 'Trading Volume' to reach $279.23 billion. The estimate is in contrast to the year-ago figure of $439.00 billion.
It is projected by analysts that the 'Trading Volume - Institutional' will reach $228.36 billion. Compared to the current estimate, the company reported $345.00 billion in the same quarter of the previous year.
The consensus estimate for 'Trading Volume - Consumer' stands at $54.33 billion. Compared to the current estimate, the company reported $94.00 billion in the same quarter of the previous year.
View all Key Company Metrics for Coinbase Global here>>>
Shares of Coinbase Global have experienced a change of -31.4% in the past month compared to the -0.2% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), COIN is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Coinbase Global, Inc. (COIN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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