Analysts See Coinbase Earnings Rebounding Next Fiscal Year

Coinbase shares returned -5.8% over the month covered in a Zacks report, compared with a 2.1% gain for the Zacks S&P 500 composite. The Zacks Financial - Miscellaneous Services industry fell 4.5% over the same period.

Analysts’ consensus estimate calls for a loss of $0.20 per share in the current quarter. For the next fiscal year, the estimate is earnings of $3.06 per share, up 4.8% over the past 30 days; Zacks said that figure implies a 711.9% increase from the expected result for the prior year.

The current-quarter revenue estimate is $1.15 billion, down 38.6% from a year earlier. Estimates for the current and next fiscal years are $5.24 billion and $6.59 billion, respectively, representing projected changes of -27% and +25.7%.

In its last reported quarter, Coinbase recorded $1.22 billion in revenue, down 18.5% year over year, and a loss of $0.39 per share, compared with earnings of $0.12 a year earlier. Revenue came in 5.81% below the Zacks consensus estimate, and the company beat earnings and revenue estimates in just one of the past four quarters, according to Zacks.