What's Going On With Coinbase Stock After Earnings?
Portfolio Pulse from Erica Kollmann
Coinbase Global, Inc. (NASDAQ:COIN) shares fell after reporting Q1 financial results, surpassing revenue estimates with $1.64 billion and earnings of $4.40 per share. Analysts have adjusted their price targets, with a mix of raised and lowered expectations, reflecting a diverse outlook on the stock's future performance. Despite beating revenue estimates, COIN's stock is trading lower, indicating market reactions to other factors beyond the earnings report.
May 03, 2024 | 2:35 pm
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Coinbase Global, Inc. reported higher than expected Q1 revenue at $1.64 billion and earnings of $4.40 per share, but shares dropped post-announcement. Analysts have mixed views, adjusting price targets both up and down.
Coinbase's stock price drop despite surpassing revenue estimates suggests market concerns beyond the earnings report. Analysts' mixed price target adjustments reflect uncertainty about the stock's future performance, potentially influencing short-term price movement negatively.
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