On October 30, Coinbase Global, Inc. fell 9.27% in Regular Trading, trading at $141.41/share, with turnover of $292 million.
The move followed a combination of earnings-related pressure and fresh analyst target cuts. The company reported third-quarter revenue of $1.216 billion, down about 35% year over year and below the $1.230 billion consensus, while GAAP EPS of $2.51 included a $715 million gain on crypto assets held for investment. Excluding that benefit, adjusted net income was $78 million, reinforcing concerns about earnings quality despite adjusted EPS of $0.27 beating expectations.
Subsequently, several brokerages lowered targets, including Canaccord Genuity to $275 from $300, Barclays to $120 from $149, and Piper Sandler to $150. The company also indicated fourth-quarter subscription and services revenue of $550 million to $630 million and disclosed about $165 million of transaction revenue through October 25, while narrowing its full-year adjusted expense outlook to $4.15 billion-$4.30 billion.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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