Can Coinbase (COIN) Stock Price Hit $400 Ahead of Earnings?

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anticipation builds for the upcoming Q4 report from widely recognized cryptocurrency platform, Coinbase Global Inc. (COIN). Prior to its release, there’s already buzz about how this earnings statement might influence the value of Coinbase shares. Given the company’s results, potential price fluctuations are on the horizon since their performance plays a substantial role in shaping prices. Meanwhile, cryptocurrency analyst CBduck has put forth intriguing predictions, suggesting that the COIN stock could potentially reach $400.

Discussing the potential influence that Coinbase’s earnings may have on the price of its stock (COIN): As one of the largest cryptocurrency trading platforms experiencing rapid global adoption, Coinbase’s earnings and growth play a significant role in determining the value of its shares. Therefore, let’s delve into how the financial performance of Coinbase could potentially impact the COIN stock price.

Coinbase Stock Price Looks Promising, $400 Next Target?

Following a prolonged period of decreasing prices, the graph of Coinbase’s stock has recently started moving upward in anticipation of their upcoming earnings announcement. With the Q4 report approaching, there is growing optimism about the performance of COIN shares. Additionally, the charts indicate that COIN could be forming a well-known and bullish pattern called “cup and handle.

presently, the COIN stock is hovering around $270 and has experienced a nearly 5% increase, breaking free from its prolonged consolidation period. If it manages to rise above the trendline, this upward movement might be validated, particularly if heavy trading volume coincides with the price surge. In such a scenario, as suggested by Coinbase analyst CBduck.base.eth, the COIN stock could potentially reach $400.

Even though Coinbase’s shares are currently rising, it’s crucial for investors to keep an eye on future price fluctuations and major economic developments to gain a clear understanding of its potential for growth.

Coinbase Earnings Forecasts

In the fourth quarter predictions, Coinbase is expected to see impressive growth with an estimated revenue of approximately $2.18 billion, marking a substantial 128.5% increase from the same period in 2023. The projected Earnings Per Share (EPS) stands at $6.07, representing a significant year-over-year jump of 432%. Notably, these figures surpass Wall Street’s expectations, which forecast a revenue of $1.585 billion and an EPS of only $1.13.

Eventually, CBDuck posits that the stock price of Coinbase is underestimated. He anticipates it will yield approximately $6.5 million in earnings and roughly $12 per share by 2024.

So Coinbase $COIN 4Q projection is completed. Have fun!

$2.18B Rev 128.5% increase from 4Q23
$6.07 EPS 432% increase from 4Q23

Wall Street expecting
$1.585B Rev and $1.13 EPS
We beat by 37.5% and 437% respectively.

For FY24, Coinbase is expected to achieve $6.5B revenue and…

— CBduck.base.eth (@CoinbaseDuck) January 2, 2025

Bottom Line

With the growing excitement surrounding Coinbase’s Q4 earnings report, there’s a strong possibility that the Coinbase stock could reach $400. This surge might be driven by robust technical signals, such as the cup and handle pattern emerging. Analyst CBDuck predicts that the crypto platform will surpass expectations, potentially generating a revenue of $2.18B and an EPS of $6.07, well above Wall Street’s predictions. However, it’s important to note that potential obstacles could hinder the COIN price reaching $400, so cautious strategies are recommended. Notably, we’ll need to wait for more details, particularly with regards to whether Coinbase will be introduced on the Ethereum L2 by its base developers.

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2025-01-05 07:39