LOS ANGELES, Aug. 6, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Coinbase Global, Inc. ("Coinbase" or "the Company") (NASDAQ: COIN) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Coinbase is the subject of a press release issued by the Financial Conduct ...

Investment Rating - Maintains an "Outperform" rating with a target price of $288 [1][2][6] Core Views - Adjusted EBITDA has been positive for six consecutive quarters, indicating a promising outlook [6] - Revenue for 2024-2026 is forecasted at $6.75 billion, $9.233 billion, and $6.055 billion, respectively, with EBITDA estimated at $4.184 billion, $5.892 billion, and $3.947 billion [6][15] - The EV/Revenue multiple for 2024 is 11x, supporting the target price of $288 [6][15] Financial Performance - 24Q2 revenue was $1.45 billion, up 105% YoY but down 11% QoQ [7] - Adjusted EBITDA for 24Q2 was $596 million, up 216% YoY but down 41% QoQ [7] - Net profit for 24Q2 was $36 million, a significant turnaround from a loss in the previous year but down 97% QoQ [7] - Trading revenue for 24Q2 was $781 million, up 139% YoY but down 27% QoQ, with trading volume at $226 billion, down 28% QoQ [8] - Subscription and service revenue grew 79% YoY and 17% QoQ, driven by stablecoin and blockchain rewards [8] Market Position and Strategy - Coinbase's market share in the cryptocurrency spot market was 5.8% in 24Q2, down from 6.5% in 24Q1 [8] - The company plans to acquire a European MiFID license, enabling it to trade derivatives in over 20 European markets [8] - Operating expenses accounted for 80% of major business revenue in 24Q2, with marketing expenses expected to increase in 24Q3 [10] Valuation and Metrics - The current price is $212.64, with a 1-month, 3-month, and 12-month absolute return of -4.3%, 4.3%, and 115.6%, respectively [3] - The P/E ratio for 2024E is 24x, with a GPM of 34.2% and ROE of 38.4% [5] - The company's market cap is $52.22 billion, with a 3-month average daily trading volume of $1.972 billion [9]

Earnings Overview - Coinbase Global Inc reported Q2 2024 revenue of $1.45 billion, exceeding analyst estimates of $1.39 billion [1] - Transaction revenue was $780.90 million, above the projected $745.10 million [1] - Adjusted EBITDA came in at $596 million, lower than the $607.7 million estimate but marking the sixth consecutive positive quarter [1] - All Q2 results showed a decline compared to Q1 2024, though still positive [1] Stock Performance and Analyst Forecasts - COIN is trading at $214.77 in pre-market, 1% above the August 1 closing price of $212.64 [1] - Analysts forecast an average price target of $260.70 for August 2025, with a maximum estimate of $400 and minimum of $145 [1][2] - The forecasts are based on TradingView data and consider opinions from 25 analysts prior to the Q2 report [1][2] AI-Powered Price Prediction - ChatGPT-4o predicts COIN stock price will likely trade between $270 and $280 in 2025 [3] - The bullish target range is $350 to $400, while the bearish target is $150 to $160 per share [3] - The AI's projection resulted in a higher average and minimum forecast compared to analyst estimates, with a more conservative maximum estimate [3] - Reaching the baseline target would yield gains between 27% and 32% from the last traded price [4] Market Context - Coinbase's performance is closely tied to the cryptocurrency market, which is influenced by external factors and known for high volatility [4]

[Table_Title] 研究报告 Research Report 2 Aug 2024 Coinbase (COIN US) 24Q2 交易量环比下降 28%，费率保持稳定，非交易收入占比提升 24Q2 Trading Volume Down, Fee Rate Stable QoQ, Non-trading Revenue Portion Increased 周琦 Nicole Zhou, CFA 杨林 Lin YANG nicole.q.zhou@htisec.com lin.yang@htisec.com [Table_yemei1] 热点速评 Flash Analysis [(Table_summary] Please see APPENDIX 1 for English summary) 事件 Coinbase 发布 24Q2 业绩。 点评 营业收入 13.97 亿美元，同比+105%，环比-12%。税前亏损为 6000 万美元，同比-23.4%，环比从盈利变为亏 损。 交易收入同比+139%，环比-27%；订阅和服务收入同比+79%，环比+17%。订阅和服务收入占比环比增加 10pct 至 4 ...

For the quarter ended June 2024, Coinbase Global, Inc. (COIN) reported revenue of $1.45 billion, up 104.8% over the same period last year. EPS came in at $1.07, compared to -$0.42 in the year-ago quarter. The reported revenue represents a surprise of +1.19% over the Zacks Consensus Estimate of $1.43 billion. With the consensus EPS estimate being $1.07, the company has not delivered EPS surprise. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...

Coinbase Global, Inc. (NASDAQ:COIN) Q2 2024 Earnings Conference Call August 1, 2024 5:30 PM ET Company Participants Anil Gupta - Vice President, Investor Relations Brian Armstrong - Co-Founder & Chief Executive Officer Alesia Haas - Chief Financial Officer Conference Call Participants Devin Ryan - Citizens JMP Ken Worthington - JPMorgan Benjamin Budish - Barclays Bank Owen Lau - Oppenheimer Mike Colonnese - H.C. Wainwright Joseph Vafi - Canaccord Genuity Pete Christiansen - Citigroup Dan Dolev - Mizuho John ...

Coinbase Global, Inc. (COIN) came out with quarterly earnings of $1.07 per share, in line with the Zacks Consensus Estimate. This compares to loss of $0.42 per share a year ago. These figures are adjusted for nonrecurring items. A quarter ago, it was expected that this company would post earnings of $1.04 per share when it actually produced earnings of $1.65, delivering a surprise of 58.65%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Coinbase Global, which be ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-40289 Coinbase Global, Inc. (Exact name of registrant as specified in its charter) Delaware 46-4707224 (State or other jurisdic ...

| --- | --- | |------------------------------------|-------| | | | | SHAREHOLDERLETTER | | | August 1, 2024 Second Quarter 2024 | | Fellow Shareholders, * See footnote (1) below. Figures have been rounded for presentation purposes only. Q2 was a quarter of strong progress for Coinbase and the crypto industry. In addition to solid financial results and continuing to build trusted products to help drive crypto adoption, Coinbase and the crypto industry made great strides towards achieving regulatory clarity i ...

Core Viewpoint - Coinbase Global (COIN) is expected to report strong second-quarter 2024 results, driven by increased trading volumes and transaction revenues due to improved crypto asset prices and volatility [1][2]. Group 1: Trading Volumes - Increased crypto asset volatility and improved prices are likely to have aided trading volumes in Q2 2024, with crypto trading remaining a major revenue driver for Coinbase [2]. - The Zacks Consensus Estimate for total trading volume is pegged at 266.6 million, indicating an improvement of nearly threefold from the year-ago reported number [4]. - The consensus estimate for total volume - Consumer is pegged at 43.6 million, suggesting a 211% increase from the year-ago reported number, while the estimate for total volume - Institution is pegged at 185.5 million, indicating a surge of 137% from the year-ago reported number [4]. Group 2: Transaction Revenues - Transaction revenues are likely to have benefited from higher blended average fees for both Consumer and Institutional segments [5]. - The Zacks Consensus Estimate for transaction revenues is pegged at $714 million, indicating an increase of 140% from the year-ago reported figure [5]. - The consensus estimate for transaction revenues - Consumer is pegged at $695 million, suggesting an increase of 124% from the year-ago reported number, while the estimate for transaction revenues - Institutional is pegged at $55 million, implying an upside of 221.6% from the year-ago reported number [6]. Group 3: Earnings Predictions - Coinbase's Earnings ESP is -20.43%, indicating that the model does not predict an earnings beat this time around [7]. - The company currently holds a Zacks Rank of 3, which does not increase the odds of an earnings beat [7].