Coinbase is expected to release its earnings reports on Thursday.
If Coinbase releases its earnings reports on Thursday, as expected, we will have data for the past quarter. However, analysts made some assessments before the reports.
Ahead of Coinbase earnings reports, analysts shared some of their assessments
Coinbase plans to announce its second-quarter earnings on Thursday. However, it was stated that there are some issues that need to be taken into account for investors. Coinbase has been making the regulatory headlines ever since the SEC sued it in June. This regulatory uncertainty has resulted in a reduction in the company’s spot trading volumes.
Still, Coinbase’s stock prices have seen an increase since the start of the year. The company performed well, supported by measures to reduce recurring operating expenses and diversifying its revenues. Reporting revenue of $773 million in the first quarter, Coinbase also significantly increased its adjusted EBITDA.
Wall Street analysts increased their interest in the company by raising price targets for the COIN stock. The stock has gained 180 percent since the start of the year, surpassing Bitcoin’s 71 percent gain.
But analysts will now follow Coinbase’s story of revenue diversification and growth. The company initially generated most of its revenues from trading, but has recently been trying to diversify its revenues.
Some analysts are expressing low quarterly volume expectations in the second quarter. With Bitcoin’s price falling, Coinbase’s monthly volumes seem to have dropped as well.
