From Nasdaq:

The cryptocurrency market has seen massive growth, with Coinbase (NASDAQ: COIN) benefiting from a 50% revenue increase in Q4 2023 and $95 million in net income last year, a huge turnaround from a $2.6 billion loss in 2022.

Coinbase’s financials are volatile, with profits heavily reliant on market conditions. Despite positive momentum in 2023, uncertainties remain for consistent growth and profitability this year and beyond.

Looking ahead, Coinbase aims to reduce expenses, focus on recurring revenue, and diversify its income streams. Analysts forecast earnings per share of $1.27 in 2024, but a $0.42 loss by 2026, underscoring the business’s persistent volatility.

Investors considering Coinbase should maintain a long-term perspective, as the stock’s optimism may already be fully priced in at a price-to-sales multiple of 13.3. However, those bullish on cryptocurrencies may still find value in adding Coinbase to their portfolios.



Read more at Nasdaq: Is $95 Million in Earnings Enough to Reassure Coinbase Investors?