Coinbase faces weak Q2 outlook, but long-term prospects intact, says Oppenheimer
Main Idea
Coinbase faces a weak Q2 outlook with expected declines in trading volume and revenue, but its long-term growth prospects remain strong, supported by new US crypto legislation and investor optimism.
Key Points
1. Coinbase's Q2 trading volume is expected to fall 44% quarter-on-quarter to $220 billion, with revenue forecast lowered to $1.42 billion.
2. Oppenheimer analysts describe the Q2 setup as 'unfavorable' but note long-term optimism among investors, raising Coinbase's price target to $417 from $395.
3. New US crypto bills, including the Clarity Act, are under review, potentially boosting digital asset adoption and regulatory clarity.
4. Coinbase's stock has more than doubled this year, driven by factors like its inclusion in the S&P 500 and improving market conditions.
5. Bitcoin hit a new all-time high, and crypto-related equities, including Coinbase, saw gains amid legislative developments.
Description
Coinbase Global is facing what analysts at Oppenheimer describe as an “unfavorable” setup heading into its second-quarter earnings report, with trading volumes and revenues expected to fall short of Wall Street estimates. The cryptocurrency exchange is projected to post a significant sequential drop in trading activity, despite its stock having more than doubled this year. In a note issued Monday, Oppenheimer revised its trading volume estimate for the quarter ended June to $220 billion, down fr...
Latest News
- Tron (TRX) set for 70% rebound as market conditions signal another local top2025-08-15 13:39:04
- ADA may hit $3 this cycle, but holders eye RTX for 30x returns2025-08-15 09:26:41
- DOGE, XLM eye $1 by Q4, but this $0.09 token could beat both to the punch2025-08-15 09:24:49
- DOGE, SHIB eye late-2025 highs, but new coin could 50x sooner2025-08-15 08:57:44
- AVAX up 11.8% to $24.46; analysts pick DeFi token to beat it in ROI2025-08-15 08:57:27