Earnings of the week 29Apr24 - Coinbase Rally?
Earnings Calendar (29 Apr 2024)
There are a few earnings of interest in the coming week. Some of these companies include SOFI, Amazon, PayPal, AMD, Coca-Cola, Starbucks, Qualcomm, MasterCard, Apple and Coinbase
let us look at Coinbase in detail.
Observations:
The revenue of Coinbase grew from $534 million in 2019 to $3.194 billion in 2022
The company ended 2022 with an operating loss of $2.67 billion.
The 10-year median margin for gross profit is at an impressive 84.2%.
However, the P/E ratio is over 600 based on its current price.
The stock price has grown over 339% in one year. It hit a recent all-time high in March and seems to be ranging sideways.
Investing has a neutral rating for the stock and has a target price of $233.
For the coming earnings, Coinbase has a forecast of 1.01 for its EPS and $1.3 billion for its revenue. With Bitcoin ETFs, should we expect a good strong surge following its coming earnings?
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