Coinbase Global (NASDAQ:COIN) reports fourth‑quarter results Thursday after the close, with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) trading at sharply different levels than during its last earnings release.
Coinbase Q4 Earnings Estimates
Analysts expect the company to report fourth-quarter revenue of $1.84 billion, down from $2.27 billion a year earlier, according to data from Benzinga Pro. It has beaten revenue estimates in seven of the last 10 quarters, including the most recently reported third quarter.
Analysts expect Coinbase to report earnings per share of $1.05 for the period, down from $3.39 a year earlier. The firm has beaten EPS estimates in nine of the last 10 quarters, including the third quarter.
Coinbase Analyst Ratings And Price Targets
Bank of America Securities analyst Craig Seigenthaler upgraded Coinbase stock from Neutral to Buy in January. The analyst maintained a price target of $340 on the stock.
Siegenthaler said that Coinbase's increased products and growing total addressable market could help cushion the stock and its financials from the crypto correction in the fourth quarter.
Product expansions include stock and ETF trading and prediction markets, which could help Coinbase grow its cross-selling opportunities and funnel for new customers.
Other analysts have been lowering their price targets on Coinbase ahead of the earnings report. Here are some recent analyst ratings on Coinbase and their price targets:
- JPMorgan: Maintained Overweight rating, lowered price target from $300 to $299
- Citigroup: Maintained Buy rating, lowered price target from $505 to $400
- Cantor Fitzgerald: Maintained Overweight rating, lowered price target from $277 to $221
- BTIG: Maintained Buy rating, lowered price target from $420 to $340
- Piper Sandler: Maintained Neutral rating, lowered price target from $350 to $270
Key Items To Watch In Coinbase's Q4 Results
Times were much different when Coinbase last reported financial results, which included a double beat for the July-September period. Bitcoin traded above $111,000 the day Coinbase reported, and was above $114,000 on the last day of the third quarter.
Fast forward to now, and Bitcoin is trading at $66,369 today and was at around $87,500 at the end of the fourth quarter.
Ethereum traded above $4,200 to end of the third quarter and was above $3,900 when the company last reported results. Today, Ethereum trades at $1,921.
Robinhood Markets (NASDAQ:HOOD) recently reported mixed Q4 results with revenue missing estimates. Weaker cryptocurrency trading volume was one of the factors that hurt its results.
Considering Robinhood's crypto volumes slump and the drop in Bitcoin and Ethereum prices, the prospects don’t look bright for Coinbase's Q4 results.
This is where Coinbase's diversification efforts could matter most. Strong institutional relationships and a reduced reliance on retail trading in recent quarters may play a larger role in shaping results.
In the third quarter, Coinbase reported $1 billion in transaction revenue and $747 million from subscriptions and services — a segment that has grown steadily and provides more stable, less volatility‑dependent income.
The company also aired a Super Bowl commercial on Sunday, though it ranked among viewers' lowest‑rated spots. Coinbase may address the cost of the ad, its goals for customer acquisition, and how it fits into the company's broader product strategy.
With crypto prices and public attention cooling in recent months, management commentary, diversification progress, and forward guidance will likely determine how Coinbase's stock trades through the rest of 2026.
Coinbase Stock Price Action
Coinbase stock is down 7.4% to $150.47 on Wednesday versus a 52-week trading range of $142.58 to $444.64. Coinbase shares are down 36.5% year-to-date in 2026 and down 43.7% over the last 52 weeks.
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