New York-based Coinbase Global, Inc. (COIN) operates a platform to buy and sell cryptocurrencies. Valued at $44.5 billion by market cap, the company provides consumers with a primary financial account for the crypto economy, offers institutions a brokerage platform with deep liquidity across the crypto marketplace, and delivers a suite of products enabling developers to build on-chain applications. The leading cryptocurrency exchange and financial services platform is expected to announce its fiscal second-quarter earnings for 2026 in the near term.
Ahead of the event, analysts expect COIN to report a profit of $0.31 per share on a diluted basis, up 158.3% from $0.12 per share in the year-ago quarter. The company missed the consensus estimates in three of the last four quarters while beating the forecast on another occasion.
For the full year, analysts expect COIN to report EPS of $1.74, down 56.8% from $4.03 in fiscal 2025. However, its EPS is expected to rise 158.1% year over year to $4.49 in fiscal 2027.
COIN stock has considerably underperformed the S&P 500 Index’s ($SPX) 20.5% gains over the past 52 weeks, with shares down 54.2% during this period. Similarly, it notably underperformed the State Street Financial Select Sector SPDR ETF’s (XLF) 6.4% gains over the same time frame.
COIN lagged on weaker trading volumes and lower crypto prices, with investors rotating out of Bitcoin rather than adding new capital. Rate concerns added pressure on growth multiples. However, Coinbase gained traction in derivatives, prediction markets, and stablecoins, with USDC hitting record holdings. Management leaned on AI to lift engineering productivity 78% year over year and cut costs, while expanding the Everything Exchange and tokenization pipeline. Share buybacks of $1.1 billion and progress on regulation via the CLARITY Act support the longer-term thesis despite near-term market softness.
Analysts’ consensus opinion on COIN stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 34 analysts covering the stock, 19 advise a “Strong Buy” rating, one suggests a “Moderate Buy,” 10 give a “Hold,” and four recommend a “Strong Sell.” COIN’s average analyst price target is $228.61, indicating a notable potential upside of 39.8% from the current levels.
