What Traders Anticipate for Coinbase Stock Movement Post-Earnings
Discover the expected price fluctuations of Coinbase stock following its upcoming earnings report and what analysts predict for the cryptocurrency exchange's future.
Colin is an Associate Editor specializing in technology and financial markets. With over three years of expertise in editing, proofreading, and verifying news related to finance and politics, he holds an M.A. in journalism from The New School and a B.A. in history and political science from McGill University.
Cryptocurrency trading platform Coinbase (COIN) is set to release its quarterly earnings after market close on Thursday. Market participants are anticipating a moderate reaction in the stock price.
Based on options market data from Thursday morning, Coinbase shares are expected to fluctuate approximately 6.5% in either direction on Friday. This potential movement could push the stock to a two-month peak near $217.50 or drop it to roughly $191.
Historically, Coinbase’s stock has experienced an average post-earnings shift exceeding 9% over the past four quarters. For instance, shares declined by 8% following the Q4 earnings report in February and fell 15% after Q3 results in October. The last positive earnings-driven rally occurred a year ago when first-quarter revenue surged amid investor enthusiasm for newly authorized spot Bitcoin ETFs.
Analyst opinions on Coinbase are divided, with half of the 12 experts tracked by Visible Alpha recommending a “buy” rating, while the other half suggest holding the shares.
The consensus price target stands at $262.42, indicating a potential upside of around 33%. Price forecasts vary widely, ranging from $169 by Barclays to as high as $400 from Canaccord and Citizens.
Coinbase stock has recently gained over 5%, coinciding with Bitcoin nearing the $100,000 mark for the first time since February. Despite this uptick, the stock has declined more than 15% year-to-date.
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