Key Takeaways
- Earnings Announcement: Coinbase Global, Inc. will report Q3 2024 earnings on October 30, 2024.
Revenue Projections:
- Total Revenue: $1.253 billion
- Subscription & Services: $560.89 million
- Transactional Revenue: $685.80 million
Expense Trends:
- Technology/administrative costs to rise due to stock-based compensation.
- Sales/marketing expenses expected to grow with digital campaigns.
- Analyst Targets: 12-month average price target of **$255.23** (range: $175–$380).
- Technical Outlook: Bullish double-bottom breakout suggests potential upward momentum.
Detailed Earnings Preview
When Will Coinbase Report Q3 2024 Earnings?
Coinbase’s Q3 2024 results will be released on October 30, 2024. The announcement will cover financial performance, user metrics, and forward guidance.
Revenue and Expense Breakdown
Analysts expect the following key figures:
| Metric | Projection |
|----------------------------|--------------------|
| Total Revenue | $1.253 billion |
| EPS (Earnings Per Share) | $2.56 |
| Subscription Revenue | $560.89 million |
| Transactional Revenue | $685.80 million |
Expense Drivers:
- Stock-based compensation: Uneven recognition may inflate Q3 costs.
- Marketing: Aggressive digital campaigns could push spending to the upper range of guidance.
Analyst Sentiment and Price Targets
Wall Street maintains a cautiously optimistic outlook:
- Average Price Target: $255.23 (**+21.1%** from current $210.72).
- Bull Case: $380 (driven by crypto market recovery).
- Bear Case: $175 (if macroeconomic conditions worsen).
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Trading the Coinbase Earnings Report
Technical Analysis
- Pattern Identified: Double-bottom reversal ("W" shape) below $193.15, signaling a bullish shift.
- Entry Points: Pullbacks to $193.15 support may offer accumulation opportunities.
Targets:
- Short-term: $223.50 (previous high).
- Breakout confirmation above $223.50** could extend gains to **$263.50.
- Risk Level: A drop below $176.25 invalidates the reversal.
Strategic Approaches
- Pre-Earnings: Monitor crypto market trends (e.g., Bitcoin/ETH price action).
- Post-Announcement: Volatility likely; consider options or staggered entries.
FAQs
1. What time will Coinbase release earnings?
The report typically drops after market close (4:30 PM ET), followed by a conference call.
2. How does Coinbase’s revenue split between subscriptions and trading?
~45% comes from subscriptions (e.g., staking, custodial fees), while ~55% is trading-dependent.
3. What could cause Coinbase to miss earnings estimates?
A crypto market downturn or regulatory hurdles may impact transactional revenue.
4. Is Coinbase stock a buy before earnings?
Technical signals suggest upside potential, but earnings volatility warrants caution.
5. How does USDC stability affect Coinbase?
Higher USDC adoption boosts revenue but also increases reserve-related costs.
6. What’s the long-term outlook for Coinbase?
Expansion into derivatives and international markets may diversify income streams.
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Note: All projections are based on analyst consensus and historical patterns. Actual results may vary.