Coinbase Global (COIN) Stock

In the most recent trading session, Coinbase Global, Inc. (COIN) finished at $280.39, which is a decrease of 1.41% compared to the previous day.

Today, stocks have experienced a significant V-shaped recovery during trading.

In the fourth quarter of 2024, Coinbase is predicted to exceed Wall Street's revenue expectations by 26% and earnings per share (EPS) estimates by 407%. We estimate a revenue of $2.0 billion and an EPS of $5.73, supported by increased consumer activity and institutional adoption. Additionally, changes in accounting rules are expected to add around $600 million to profits, and Coinbase's expected inclusion in the S&P 500 could lead to a demand of at least $2.5 billion from ETFs and mutual funds, which would likely raise its stock price.

There are many methods to assess how people feel about a stock and its possible future price. However, when these methods become widely recognized in the market, their effectiveness and reliability begin to decrease.

According to analysts at Mizuho, Coinbase, a cryptocurrency exchange, may see advantages from a potential increase in Bitcoin's price in the medium term. This growth could be driven by the growing acceptance of Bitcoin, which is the most popular cryptocurrency in the world.

On Wednesday, the crypto exchange Coinbase announced the addition of four notable members to its global advisory council. Among them are former U.S. Senator Kyrsten Sinema and Chris LaCivita, who was a co-campaign manager for President Donald Trump's re-election.

Coinbase is set to start its operations in Argentina after receiving approval from the country's regulators, as announced by the company on January 28. The expansion will be managed by Matías Alberti, who has experience from working at the Latin American cryptocurrency company Buenbit.

The shares could be included as soon as March.

Coinbase is working hard to grow, gain more market share, and keep innovating, which positions it strongly for future success. This makes it an excellent option to consider for your investment portfolio.