It’s earnings season on Wall Street, and that means Coinbase is set to report its first-ever quarterly results as a public company. The cryptocurrency exchange is set to report its Q1 results after the market close on Thursday, April 29.
Analysts are expecting big things from Coinbase in its first quarter as a public company. The average analyst estimate is for revenue of $1.80 billion and adjusted earnings of $3.
09 per share. That would represent year-over-year growth of 115% and 927%, respectively.
Coinbase went public via a direct listing on the NAsdaq on April 14. The stock opened at $381 per share and closed the day up nearly 30% at $328.
28. However, the stock has since pulled back and is currently trading around $310 per share.
Investors will be looking for Coinbase to provide updates on a number of fronts in its Q1 report. First and foremost, they’ll be looking for any color on how the company performed in the wake of the Bitcoin rally in early 2021.
NOTE: This article is not intended to provide financial advice. Investing in cryptocurrency and other digital assets carries a high level of risk and may not be suitable for all investors. Before deciding to invest, it is important to carefully consider your investment objectives, risk tolerance and financial situation. You should never invest more than you can afford to lose, and you should always consult with a qualified financial advisor before making any investment decisions. Additionally, Coinbase earnings reports are not necessarily indicative of future performance. Please use caution when considering any investment related to Coinbase or other cryptocurrencies.
Bitcoin surged to new all-time highs above $61,000 in early March before pulling back sharply. It has since stabilized in the $50,000 range.
In addition, investors will also be hoping for an update on Coinbase’s recent acquisition of Bison Trails, a provider of infrastructure-as-a-service solutions for blockchains. The deal, which was announced in late March, is valued at up to $500 million.
Finally, investors will also be hoping for an update on Coinbase’s ongoing efforts to expand its product offerings beyond just buying and selling cryptocurrencies.
All in all, it should be an eventful earnings report for Coinbase given all of the recent developments at the company. And with the stock down 20% from its highs, investors will be hoping that the results are strong enough to send the stock back into bullish territory.
6 Related Question Answers Found
Coinbase, the largest US cryptocurrency exchange, is set to go public through a direct listing on the NAsdaq on April 14. The move will make Coinbase the first major crypto company to go public in the US and is seen as a major milestone for the young industry. Coinbase was founded in 2012 and has grown to become the most popular crypto exchange in the US.
It’s no secret that cryptocurrency trading is a 24/7 operation. This can be tough for those just getting started, as the market never sleeps and there are always opportunities for profit – or loss. So, what time does Coinbase market open?
It’s official: Coinbase is going public. The San Francisco-based cryptocurrency exchange announced Thursday that it has confidentially filed for a direct listing with the Securities and Exchange Commission. The move comes as bitcoin, ethereum and other digital tokens have soared in value over the past year, drawing mainstream attention to the little-regulated industry.
It can take up to five days for a new Coinbase account to be fully reviewed and approved. However, in most cases, the review process is completed within a few hours. Once your account has been approved, you will be able to buy, sell, and trade cryptocurrencies on the Coinbase platform.
If you’re new to the world of cryptocurrency, the process of clearing transactions can be a little confusing. So, how long does Coinbase clearing take? When you make a transaction on Coinbase, that transaction is sent to the blockchain for confirmation.
It can take up to five days for Coinbase to investigate and resolve a customer service issue. For account-related issues, Coinbase may require additional information and documentation. Once Coinbase has all the relevant information, they will work to resolve the issue as soon as possible.
