- Coinbase's Q1 results featured a slight miss on non-GAAP EPS and revenue projections despite a solid year-over-year growth.
- The stock experienced a 2% decline following the report, with transaction revenues seeing a significant decrease from the previous quarter.
- Analyst perspectives show a mixed outlook with expected upside and established GF Value indicating potential downside.
Coinbase Q1 Financial Performance
Coinbase (COIN, Financial) released its Q1 earnings, revealing a non-GAAP EPS of $1.94. This figure fell short of expectations by $0.04. The company achieved a revenue of $2.03 billion, marking a notable 23.8% increase from the same period last year. Despite this growth, revenue still fell short of forecasts by $60 million. Notably, transaction revenue saw a 19% decline from the previous quarter, dropping to $1.3 billion. Consequently, shares experienced a 2% drop post-announcement.
Insights from Wall Street Analysts
Analysts have weighed in on Coinbase, with 26 experts offering one-year price targets. The average target price stands at $266.46, with projections ranging from a high of $400.00 to a low of $169.00. This average target suggests a potential upside of 29.04% from the current trading price of $206.50. For comprehensive estimates, visit the Coinbase Global Inc (COIN, Financial) Forecast page.
Further reflecting analyst sentiments, 30 brokerage firms have provided an average recommendation of 2.4 for Coinbase, indicating an "Outperform" status. This rating is part of a scale from 1 to 5, where 1 represents a Strong Buy and 5 indicates a Sell.
Evaluating GF Value
According to GuruFocus estimates, the projected GF Value for Coinbase Global Inc (COIN, Financial) is $186.12 within a year. This suggests a potential downside of 9.87% from the current price of $206.50. GF Value represents GuruFocus' estimation of a stock's fair trading value, derived from historical trading multiples, past business growth, and prospective business performance evaluations. For more in-depth information, refer to the Coinbase Global Inc (COIN) Summary page.
