Q: What is Coinbase Global, Inc. 2023/Q4 Earnings Preview?
TigerGPT Answer: 【Forecast Data】
The financial forecast data for Coinbase Global, Inc. (COIN) this quarter includes an earnings per share (EPS) estimate of $0.02, total revenue estimate of $823,850,050, and EBIT estimate of $16,069,230. Compared to the same period last year:
- EPS has increased significantly from -$2.46 to $0.02, which is a positive change and indicates a potential return to profitability.
- Total revenue is forecasted to increase by approximately 30.95% from $629,108,000.
- EBIT is expected to improve from -$554,872,000 to $16,069,230, which is a substantial positive shift from a significant loss to a profit.
The significance of these changes suggests a strong recovery and potential turnaround in the company's financial performance.
【Quarterly Important News】
Key news over the past quarter includes a surge in cryptocurrency prices, with Bitcoin breaking above $42,000 and reaching a high of $46,713. This has positively impacted stocks related to cryptocurrencies and blockchain, including Coinbase Global, Inc. The rise in cryptocurrency prices is likely to have a favorable impact on the company's trading volumes and revenue. However, there was also news suggesting that low Bitcoin ETF fees could be bad for Coinbase, potentially indicating increased competition and pressure on fees.
【Forecast Viewpoints】
There are no specific articles provided to summarize viewpoints on the company's financial report. However, the general sentiment can be inferred from the forecast data and the news related to the cryptocurrency market's performance.
【Stock Trend Analysis】
The stock price of Coinbase Global, Inc. has experienced a significant increase of 131.65% from the last financial report release date to the current date. The latest stock price is $141.99, with a support level at $145.05 and a resistance level at $140.05. This suggests a bullish trend, but the stock is currently trading near its resistance level, which could indicate potential changes if the resistance is not broken.
【Options Large Order Analysis】
The options large orders show a mix of sell orders for call options at various strike prices and a buy order for a call option at a strike price of $134. The predominance of sell orders for call options could indicate a bearish sentiment among options traders, suggesting that they expect the stock price to remain below the strike prices of the sold calls.
【Analyst Ratings and Target Price Forecast】
Analyst ratings for Coinbase Global, Inc. are mixed, with 4 recommendations to recommend, 6 to buy, 7 to hold, and 9 to underperform. The mean target price is $130.42, with a low estimate of $60.00 and a high estimate of $200.00. This indicates a standard valuation status, with the current stock price being above the mean target price. The financial report could potentially meet or slightly exceed expectations based on these valuations.
【Comprehensive Conclusion】
Coinbase Global, Inc. is showing signs of a financial turnaround with positive forecasted EPS, revenue, and EBIT compared to the previous year. The surge in cryptocurrency prices is likely to have positively impacted the company's performance. The stock has been on a bullish trend, but options traders seem to have a bearish sentiment. Analyst ratings are mixed, and the stock is currently trading above the mean target price, suggesting that the financial report may meet expectations but also that the stock might be slightly overvalued.
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.
