Shares of Coinbase Global Inc (COIN) have rallied 70.9% in quarter to date, outperforming its industry, sector and Zacks S&P 500 Composite’s return in the same time frame. COIN, America's largest registered crypto exchange, has a market capitalization of $76.3 billion. The average volume of shares traded in the last three months was 11.8 million.COIN shares are trading well above the 50-day moving average, indicating a bullish trend.COIN vs Industry, Sector & S&P 500 QTDImage Source: Zacks Investment Resear ...

Presidential Impact on Stocks Earlier this month, former President Donald Trump defeated Vice President Kamala Harris to become the president-elect. As I have discussed in previous commentaries, the data suggests that U.S. presidents have little impact on the overarching market for two reasons: 1. The U.S. Economy is Massive: Though presidents wield the most power in the U.S., the economy is akin to a giant tanker – its immense size and complex interconnectedness make it challenging to switch directions on ...

President-Elect Donald Trump reportedly is meeting with Coinbase CEO Brian Armstrong to discuss the incoming administration’s personnel appointments.The meeting would mark the first time they have met since the day of the election, the Wall Street Journal (WSJ) reported Monday (Nov. 18), citing unnamed sources.Trump said during the campaign that if elected, he would form a presidential advisory commission focused on bitcoin and crypto and with developing transparent regulatory guidance in the sector, accord ...

Tom Yeung here with your Sunday Digest. Last week, I recommended five stocks to buy in 2025 on a Donald Trump election victory. The president-elect is known for his clear intentions, and his second term promises even more of what we saw during his first 2016-2020 go-around. (I realize some of you will love this idea, while others will not.) To ride this wave, I shared five stocks that focused on his people (Tesla), his oil & gas ambitions (Kinder Morgan, Halliburton), and companies that would do well under ...

Coinbase (COIN 9.69%) has been an extremely volatile stock, to say the least. From the initial public offering in April 2021 through the end of 2022, it dropped a troubling 89%. But since then, it has catapulted 801% higher (as of Nov. 12). Despite the positive momentum recently, this top cryptocurrency stock has experienced gut-wrenching ups and downs.You might be considering buying shares as they approach their all-time high. Before you do, here are three must-know facts about Coinbase.1. Coinbase is seek ...

Investment Rating - The report maintains a "Buy" rating for Coinbase Global with a target price of $350.00 per share [1][8][12]. Core Insights - The report highlights a long-term diversification of revenue for Coinbase, with expectations that subscription and service revenue will exceed $2 billion this year [7][12]. - Recent performance in the cryptocurrency market, particularly Bitcoin and Ethereum, has been strong, positively impacting Coinbase's outlook [8][10][12]. - The board has authorized a stock buyback plan of up to $1 billion, supported by significant cash resources on the balance sheet [7][12]. Summary by Sections Performance Summary - For Q3 2024, Coinbase reported revenue of $1.2 billion, a 17% decrease from the previous quarter but a 104% year-over-year increase, falling short of the consensus estimate of $1.26 billion [2][4]. - Net profit increased from $36 million in Q2 to $75.5 million in Q3, with adjusted EBITDA at $449 million, below the expected $469.2 million [2][4]. - Total trading revenue was $573 million, down 27% quarter-over-quarter, with retail revenue accounting for approximately 40% of total revenue [2][4]. Revenue Breakdown - Subscription and service revenue decreased by 7% to $556 million, representing about 49% of total revenue, primarily due to a decline in average cryptocurrency prices [2][4]. - Total operating expenses were $1 billion, a 6% decrease from the previous quarter, with technology and development, general and administrative, and sales and marketing expenses totaling $870 million, up 3% [2][4]. Future Outlook - The company anticipates that subscription and service revenue will be impacted by factors such as a 10% decline in Ethereum prices and decreasing interest rates [7][12]. - Projected technology and development expenses for Q4 are expected to be between $690 million and $730 million, while sales and marketing expenses are projected to be between $170 million and $220 million [7][12]. Financial Projections - Revenue for 2024 is forecasted to reach $5.1 billion, with a significant increase expected in subsequent years [14]. - The report indicates a projected net profit of $1.28 billion for 2024, with continued growth anticipated in the following years [14].

In the wake of Donald Trump’s presidential victory, investor optimism has surged across the cryptocurrency market, driving notable gains in major crypto-related stocks. Shares of Coinbase Global (NASDAQ: COIN) and Robinhood Markets (NASDAQ: HOOD) have experienced significant gains, driven by renewed bullish sentiment surrounding digital assets. With Trump’s pro-crypto stance and the Republican Party regaining control of the Senate, investors are increasingly hopeful for supportive policies that could furthe ...

Key TakeawaysCoinbase shares surged 20% to a three-year high Monday as investors bet that higher trading volumes and a more favorable regulatory environment under the incoming Trump Administration could benefit the crypto exchange.The stock broke out above the top trendline of a seven-month descending channel last week on above-average volume, with follow-through buying continuing into this week.Investors should watch key overhead levels on the Coinbase chart around $369, $430, and $695, while monitoring an ...

Investment Rating - The report assigns a "Buy" rating for the company, indicating an expected relative return of over 20% within the next six months [8]. Core Insights - Coinbase's Q3 2024 revenue was $1.21 billion, below the expected $1.25 billion, with trading revenue at $570 million, also below the consensus estimate of $620 million. Subscription and services revenue was $560 million, falling short of the adjusted expectation of $570 million. Adjusted EBITDA was $450 million, slightly below the consensus of $460 million, and adjusted net profit was $75.5 million. The quarter experienced a fair value adjustment loss of approximately $120 million from cryptocurrencies [1][2]. - The company is making progress on its key priorities for 2024, focusing on revenue growth through the expansion of derivatives, international markets, and custody services, while also enhancing the utility of cryptocurrencies [3][4]. - Coinbase announced a stock repurchase plan of up to $1 billion, approved by the board in October 2024, allowing for the buyback of Class A common stock without an expiration date [3]. Revenue Breakdown - Trading Business: Q3 2024 retail trading revenue was $480 million, a 27% decrease quarter-over-quarter, with retail trading volume at $34 billion, down 8%. The retail fee rate decreased to 1.42% from 1.80% in Q2 2024, primarily due to increased trading volume in stablecoin pairs and reduced non-retail trading revenue. Institutional trading revenue was $55.3 million, down 13%, with institutional trading volume at $151 billion, a 20% decline [2]. - Subscription and Services: Q3 2024 subscription and services revenue was $560 million, a 7% decrease quarter-over-quarter. Stablecoin revenue was $250 million, up 3%, while blockchain rewards revenue was $160 million, down 16%. Interest and financial fees revenue was $64 million, down 8%, and custody fees revenue was $32 million, also down 8% [3]. Q4 2023 Guidance - For October, the company expects total trading revenue of approximately $190 million and subscription and services revenue between $505 million and $580 million, reflecting certain headwinds, including a 10% decline in the average price of ETH compared to Q3 and market expectations of interest rate cuts. The company anticipates R&D and management expenses between $690 million and $730 million, and sales expenses between $170 million and $220 million [4].

Investment Rating - The report assigns a "Hold" rating for the company, indicating an expected relative stock price return of -10% to 10% over the next six months compared to the S&P 500 index [8] Core Insights - Coinbase reported Q3 2024 revenue of $1.21 billion, which fell short of consensus expectations of $1.25 billion. Trading revenue was $570 million, below the expected $620 million, while subscription and services revenue was $560 million, also below the adjusted expectation of $570 million. Adjusted EBITDA was $450 million, slightly below the consensus of $460 million, and adjusted net profit was $75.5 million. The quarter experienced a fair value adjustment loss of approximately $120 million from cryptocurrencies [1] - The company continues to make progress on its key priorities for 2024, which include driving revenue growth through the expansion of primary revenue sources such as derivatives, international markets, and custody services, as well as integrating USDC into the crypto economy. Efforts to enhance the utility of cryptocurrencies are also underway, including promoting the use of stablecoins beyond trading and launching cbBTC [3][4] - Coinbase announced a stock repurchase plan of up to $1 billion, approved by the board in October 2024, allowing for the repurchase of Class A common stock without an expiration date [3] Summary by Sections Trading Business - Q3 2024 trading revenue decreased due to market volatility, with retail trading revenue at $480 million, down 27% quarter-over-quarter. Retail trading volume was $34 billion, down 8% quarter-over-quarter. The retail fee rate decreased to 1.42% from 1.80% in Q2 2024, primarily due to a significant increase in trading volume of stablecoin pairs and a reduction in non-retail trading revenue. Institutional trading revenue was $55.3 million, down 13% quarter-over-quarter, with institutional trading volume at $151 billion, down 20% [2] Subscription and Services Business - Q3 2024 subscription and services revenue was $560 million, down 7% quarter-over-quarter. While staking, custody, and average USDC balances increased, they were offset by lower average prices of crypto assets. Stablecoin revenue was $250 million, up 3%, while blockchain rewards revenue was $160 million, down 16%. Interest and financial fees revenue was $64 million, down 8%, and custody fee revenue was $32 million, down 8% [3]