The crypto market has had a strong start to the year, continuing its upward trend from 2024. One cryptocurrency stock that could be poised for significant growth is Coinbase (COIN -0.98%), which is up over 8% this year as I write this.
Stocks have pulled off a massive V-shaped rally in today's trading session.
For Q4 2024 earnings, Coinbase is expected to beat Wall Street revenue estimates by 26% and EPS estimates by 407%. Our projections suggest a revenue of $2.0 billion and EPS of $5.73. Consumer volumes surged in Q4 2024, while institutional adoption and diversified revenue streams supported stability. FASB accounting changes will boost profits by an additional ~$600M. Coinbase's anticipated March inclusion in the S&P 500 will trigger significant buying from ETFs and mutual funds, driving at least $2.5 billion in demand, further boosting its stock price.
The YieldMax COIN Option Income Strategy ETF offers an 81.57% distribution yield by executing a covered call strategy on Coinbase. Despite attracting $1.12 billion in assets, CONY underperforms COIN significantly, especially during rapid price surges, due to its covered call strategy. Covered call selling doesn't necessarily deliver high total returns and could distort the market, especially in an extended bear market for Coinbase.
There are plenty of ways to gauge sentiment around stock and its potential future price. Still, when most of them are known by the market, their accuracy and power start to fade.
Crypto exchange Coinbase on Wednesday added four high-profile members to its global advisory council, including former U.S. Senator Kyrsten Sinema and Chris LaCivita, co-campaign manager for President Donald Trump's re-election.
It's all systems go for Coinbase to launch in Argentina after regulators in that South American nation gave their approval for the U.S.-based cryptocurrency exchange to begin operating there, the company said Tuesday (Jan 28). The expansion will be led by Matías Alberti, who previously worked for Latin American crypto firm Buenbit.
Coinbase Global, Inc. (COIN) reachead $281.82 at the closing of the latest trading day, reflecting a +1.38% change compared to its last close.
Recently, Zacks.com users have been paying close attention to Coinbase Global (COIN). This makes it worthwhile to examine what the stock has in store.
Coinbase's efforts to accelerate growth, increase market share and continue innovation poise it well for growth, making it a great choice for one's portfolio.
Coinbase (COIN 0.56%) is set to have another great quarter in Q4 2024, and that should continue into 2025 as the stablecoin USDC grows and the company benefits from higher trading momentum for everything from altcoins to meme coins. In this video, Travis Hoium explains why this is a company that will benefit from that short-term momentum while also building the infrastructure needed to make the blockchain scalable long term.
Coinbase reportedly asked the U.S. Court of Appeals to rule that the trading of crypto assets on its platform are not securities transactions, but asset sales.