Coinbase ( NASDAQ:COIN )
On Thursday, November 3rd, after the market has closed, Coinbase ( NASDAQ:COIN ) will release the company’s earnings report for the third quarter . As a result, Coinbase stock surged.
The average estimate for loss per share is $1.47. In contrast, the average estimate for revenue is $641.88 million (a decrease of 51.07% year over year).
When there is an increase in interest rates, the price of assets, particularly riskier ones, goes down. The recent decline in crypto-related stock prices reflects investors’ desire to reduce risk exposure.
Bitcoin ‘s (BTC-USD) value has decreased by around 57% this year.
Seeking Alpha’s Quant Rating system has given Coinbase stock a Sell rating because it has negative EPS revisions and diminishing growth compared to other financial companies. As a result of these factors, Seeking Alpha’s Quant Rating system has assigned COIN stock this rating.
There has been one upward change to EPS estimates over the last three months, while seven negative revisions have been made. There have been 5 changes in the right direction (upwards) and 12 revisions in the wrong direction (downwards).
Coinbase stock reported an earnings per share (EPS) loss of $4.98 per GAAP for the second quarter, falling short by $2.21, and sales of $808.3 million, falling short by $60.07 milli...
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