Coinbase Shares Fall 1.9% as Earnings Estimates Move Lower

Coinbase Global shares closed Wednesday at $186.41, down 1.9% from the previous session. The decline was steeper than the S&P 500’s 0.25% loss and the Dow’s 0.86% drop, while the Nasdaq rose 0.24%.

Over the past month, Coinbase shares gained 7.47%, compared with a 4.43% loss for the Finance sector and a 0.42% decline for the S&P 500.

Zacks consensus estimates project a loss of 22 cents per share and revenue of $1.14 billion for Coinbase’s upcoming quarter. Those figures would mark year-over-year changes of -115.28% and -39.15%, respectively.

For the full year, Zacks estimates earnings of -$0.48 per share and revenue of $5.24 billion. The consensus estimate for earnings per share has moved 11.93% lower over the past month, according to Zacks.