Coinbase(COIN) ZACKS·2024-07-30 18:25Core 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 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].