Coinbase investors will likely have to prepare themselves for another lackluster round of quarterly results when the crypto exchange posts its fourth quarter results on Tuesday. HeleneBraunn reports
Investors in Coinbase will likely have to prepare themselves for another lackluster round of quarterly results from the U.S.-based crypto exchange when it posts its fourth quarter and yearly 2023 earnings report on Tuesday after the market close.
“We think fourth-quarter [earnings] and 2023 guidance are likely to disappoint, and we see little risk of the stock getting away from us at least around earnings,” Chris Brendler of D.A. Davidson wrote in a note Thursday. Brendlerfrom buy to neutral as he thinks a breather may be in order after the stock has almost doubled so far this year.
Analyst estimates for Coinbase’s annual revenue in 2022 are currently set for $3.1 billion, which would be a 61% percent drop from the previous year.
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