Shares of Coinbase Global Inc (NASDAQ:COIN) are trading marginally higher Thursday morning as investors await the company’s highly anticipated second-quarter earnings report, due after the market close. Here’s what investors need to know.
What To Know: The crypto exchange enters its reporting day on the heels of a major strategic partnership announced Wednesday with JPMorgan Chase.
Analysts are forecasting earnings of $1.35 per share on revenues of $1.69 billion for the quarter. Investors will also focus on whether the company met its own second-quarter guidance for subscription and services revenue of between $600 million and $680 million.
Positive momentum for the stock was fueled by the landmark deal with JPMorgan. The collaboration will eventually allow the bank’s 80 million customers to link their accounts and use Chase Ultimate Rewards points to fund their crypto wallets, significantly lowering the barrier to entry for new users. The integration is slated to begin in the fall of 2025, with a full rollout expected in 2026.
This partnership, combined with a buoyant crypto market, has spurred analyst optimism. In July, firms like Citigroup and Jefferies raised their price targets on COIN, as the stock has gained over 80% in the last three months. Investors will be watching closely to see if today's results and forward guidance can sustain the bullish trend.
Benzinga Edge Rankings: According to Benzinga Edge stock rankings, Coinbase exhibits very strong momentum and growth characteristics ahead of its earnings report.
The stock scores an exceptional 91.48 for Momentum, reflecting its powerful recent price performance. It also earns a high Growth score of 86.84, indicating robust underlying business expansion.
These strengths, however, are contrasted by a low Value score of 16.01, suggesting the stock may be expensive based on traditional valuation metrics. This profile paints a picture of a high-flying growth stock that investors are paying a premium to own.
Price Action: According to data from Benzinga Pro, COIN shares are trading The stock has a 52-week high of and a 52-week low of
Read Also: Bitcoin Steadies At $118,000 As Ethereum, XRP, Dogecoin Push Higher
How To Buy COIN Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Coinbase Global’s case, it is in the Financials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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