"Coinbase's decline has been tied to both execution and the broader crypto cycle. The company reported Q4 revenue of $1.80 billion, missing expectations and declining more than 20% year over year."
"Despite the downturn, analysts are focused on the longer-term shift in Coinbase's business. Institutional derivatives revenue reached record levels, supported by the Deribit acquisition."
Coinbase stock trades around $191, with analysts targeting $241, indicating a 26% upside. The company reported Q4 revenue of $1.80 billion, missing expectations and showing a 20% year-over-year decline. A net loss of $667 million was attributed to markdowns on crypto holdings and reduced trading activity. Despite challenges, analysts remain optimistic due to record institutional derivatives revenue and growing USDC balances. The majority of analysts rate Coinbase as a Buy or Strong Buy, reflecting confidence in its long-term business prospects.
Read at 24/7 Wall St.
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