Without the benefit of the rich datasets provided by Barchart Premier, you may be tempted to immediately write off cryptocurrency exchange and wallet service Coinbase (COIN). It’s only natural. For starters, the underlying asset class is incredibly volatile and unpredictable. Second, while COIN stock carries a Moderate Buy consensus view, it’s hardly the most reassuring breakdown, with most of the individual ratings coming in as a Hold.
However, the biggest reason to be skeptical about COIN stock has to do with the company’s latest earnings results. As StockStory pointed out, shares tumbled following the disclosure of Coinbase’s third-quarter results, which missed on mainline metrics. These included revenue, EBITDA and earnings per share. Additionally, transaction revenue declined on a sequential quarterly basis, with management warning about softer market conditions.
