Highlights:
- Coinbase Global (COIN, Financial) reports a 3.2% stock decrease after unmet Q1 earnings and Q2 outlook.
- Wall Street analysts offer an average price target suggesting a potential 29.04% upside.
- GuruFocus estimates indicate a possible 9.87% downside based on GF Value.
Coinbase Global (COIN) experienced a notable 3.2% decline in its stock price following the release of its Q1 2024 earnings, which fell short of market expectations. The company's revenue for the first quarter was reported at $2.03 billion, missing the anticipated $2.09 billion mark. Additionally, trading volume recorded $393 billion, not meeting the $398.9 billion estimate.
Wall Street Price Targets and Recommendations
Wall Street analysts have set one-year price targets for Coinbase Global Inc (COIN, Financial), with an average target price of $266.46. This prediction includes a high estimate of $400.00 and a low of $169.00. The average target represents a potential upside of 29.04% from the current stock price of $206.50. For a more comprehensive analysis, visit the Coinbase Global Inc (COIN) Forecast page.
Among 30 brokerage firms, the consensus recommendation for Coinbase Global Inc (COIN, Financial) reflects an "Outperform" status with an average brokerage recommendation score of 2.4. The rating scale ranges from 1, indicating a Strong Buy, to 5, representing a Sell.
Analysis and GF Value Estimations
According to GuruFocus calculations, the estimated GF Value for Coinbase Global Inc (COIN, Financial) in one year is $186.12. This valuation suggests a potential downside of 9.87% from the current price of $206.50. The GF Value represents GuruFocus' estimation of the stock's fair trading value, derived from historical trading multiples, previous business growth, and future performance forecasts. For further insights and detailed data, visit the Coinbase Global Inc (COIN) Summary page.
