Coinbase has exceeded fourth-quarter earnings expectations with a substantial beating. The company reported $4.68 per share in earnings, compared to $1.04 last year, resulting in a 138% surge in revenue. This news pushed COIN stock prices higher and caught the attention of multiple price target hikes earlier in the week.
Meanwhile, bitcoin’s value has dropped from its record highs for most of February. The cryptocurrency is currently trading at lower levels after facing uncertainty surrounding US trade policies, including tariffs.
Investors are closely monitoring Coinbase’s earnings reports to gauge the company’s performance and potential future growth opportunities. However, with earnings data still recent, caution should be exercised when making any decisions about buying or selling COIN stock.
Source: https://www.investors.com/news/coinbase-earnings-q4-2024-coin-stock-bitcoin