Q: What is Coinbase Global, Inc. 2024/Q3 Earnings Preview?
TigerGPT Answer: ### Financial Forecast Data
**Earnings Per Share (EPS):**
- **Current Quarter (Q3 2024):** $1.08
- **Same Period Last Year (Q3 2023):** -$0.01
- **Percentage Change:**
\[
\left( \frac{1.08 - (-0.01)}{-0.01} \right) \times 100 = 10,900\%
\]
- **Significance:** The significant increase in EPS indicates a substantial improvement in profitability compared to the same period last year.
**Total Revenue:**
- **Current Quarter (Q3 2024):** $1,427,134,160.00
- **Same Period Last Year (Q3 2023):** $674,148,000.00
- **Percentage Change:**
\[
\left( \frac{1,427,134,160 - 674,148,000}{674,148,000} \right) \times 100 = 111.6\%
\]
- **Significance:** The more than doubling of revenue suggests strong growth in the company's operations and market demand.
**EBIT (Earnings Before Interest and Taxes):**
- **Current Quarter (Q3 2024):** $388,785,570.00
- **Same Period Last Year (Q3 2023):** -$79,825,000.00
- **Percentage Change:**
\[
\left( \frac{388,785,570 - (-79,825,000)}{-79,825,000} \right) \times 100 = 587.1\%
\]
- **Significance:** The turnaround from a negative EBIT to a positive one indicates a significant improvement in operational efficiency and profitability.
### Quarterly Important News
1. **Bitcoin Concept Stocks Decline:**
- **Summary:** Bitcoin-related stocks, including Coinbase, saw a decline with Coinbase dropping over 2.6%.
- **Impact:** This decline could reflect investor sentiment and market volatility affecting Coinbase's stock performance.
2. **Meta Platforms' Revenue Growth:**
- **Summary:** Meta Platforms is expected to report an 18% revenue growth for Q3.
- **Impact:** Positive tech sector performance could have a spillover effect, potentially benefiting Coinbase.
3. **Elon Musk and Geopolitical Discussions:**
- **Summary:** Leaked discussions between Elon Musk and Putin.
- **Impact:** While not directly related to Coinbase, geopolitical tensions can affect market stability and investor confidence.
4. **US Stock Market Trends:**
- **Summary:** US stock indices showed signs of decline due to rising bond yields and investor focus on earnings reports.
- **Impact:** Broader market trends can influence Coinbase's stock performance and investor sentiment.
### Forecast Viewpoints
**Related Articles:**
- **Hold Rating on Coinbase Global Reflects Earnings Volatility and Regulatory Uncertainty:**
Hold Rating on Coinbase Global Reflects Earnings Volatility and Regulatory Uncertainty
### Stock Trend Analysis
- **Latest Stock Price (2024-10-27):** $205.04
- **Support Price (2024-10-25):** $209.12
- **Resistance Price (2024-10-25):** $192.12
- **Quarterly Stock Price Fluctuation (2024-06-30 to 2024-09-28):** -13.95%
- **Analyst Target Price:** Mean: $248.61, Low: $160.00, High: $380.00
**Analysis:**
- The stock price has decreased by 13.95% over the past quarter, indicating a bearish trend.
- The current price is below the support level, suggesting potential further declines unless a reversal occurs.
- The resistance level at $192.12 may act as a ceiling for any upward movement.
### Options Large Order Analysis
**Options Bulk Orders:**
- **Call Options:**
- COIN 20241025 197.5 call (Sell)
- COIN 20250117 300.0 call (Buy)
- COIN 20241025 202.5 call (Buy)
- **Put Options:**
- COIN 20241101 195.0 put (Sell)
- COIN 20241101 172.5 put (Sell)
**Analysis:**
- The presence of both call and put options with significant volumes suggests mixed sentiment among investors.
- The buying of call options at higher strike prices indicates some bullish expectations.
- The selling of put options suggests a belief that the stock will not fall below certain levels, indicating some level of confidence in the stock's stability.
### Analyst Ratings and Target Price Forecast
- **Analyst Ratings:** 5 recommend, 8 buy, 14 hold, 1 underperform
- **Target Price Forecast:** Mean: $248.61, Low: $160.00, High: $380.00
**Valuation Status:**
- **Current Valuation:** The stock appears to be undervalued based on the mean target price of $248.61 compared to the latest price of $205.04.
- **Prediction:** Given the mixed analyst ratings and the target price forecast, the financial report could potentially meet or slightly exceed expectations, but regulatory uncertainties and market volatility remain key risks.
### Comprehensive Conclusion
Coinbase Global, Inc. (COIN) has shown significant improvements in its financial performance, with substantial increases in EPS, revenue, and EBIT compared to the same period last year. However, the stock has experienced a decline over the past quarter, reflecting market volatility and investor concerns. Mixed sentiment from options trading and analyst ratings suggest cautious optimism. The upcoming financial report is likely to meet or slightly exceed expectations, but regulatory and market risks should be closely monitored.
**Disclaimer:** The above content is generated by the AI robot TigerGPT and does not represent any personal views. The content is for reference only and does not constitute any investment advice.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
