H.C. Wainwright analyst Mike Colonnese views the Q3 consensus estimates “as safe” heading into Coinbase’s (COIN) earnings release tomorrow. Consensus revenue and earnings estimates are “well-calibrated” going into Coinbase’s report, the analyst tells investors in a research note. Given its expectations for an in-line quarter, the firm does not expect to see a significant move in shares in either direction after the print. However, it remains “very bullish” on the stock over the next 12 months, based on the crypto industry’s “four-year price cycle and Coinbase’s dominant position in the digital assets’ ecosystem.” H.C. Wainwright reiterates a Buy rating on the shares with a $216 price target
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
