TechFlow news, October 30 — According to CoinDesk, Wall Street analysts expect Coinbase's (COIN) spot trading volume to slow further in the third quarter, partly due to a lack of catalysts in the crypto market and regulatory uncertainty ahead of the presidential election. FactSet estimates suggest that when Coinbase reports earnings after market close on Wednesday, third-quarter revenue is expected to decline by about 13%, falling from $1.45 billion in the previous quarter to $1.26 billion.
Meanwhile, earnings per share (EPS) are projected at $0.46, up from $0.14 in Q2. Benjamin Buddish, an analyst at Barclays, wrote in a report: "Coinbase’s trading volumes remained weak this quarter, primarily driven by softer retail trading revenues." He maintained an equal-weight rating on the stock, raised the price target from $169 to $175, while cutting his Q3 EPS estimate for Coinbase from $1.62 to $1.05.
