The Details:

Bitcoin is up more than 4% and trading just under $47,000 on Friday, and shares of several crypto-related stocks are trading higher including Coinbase. 

Coinbase's stock has had a rough start to 2024 and is down more than 19% year-to-date after the long-awaited approval of several spot Bitcoin ETFs became a "sell the news" event. 

However, Bitcoin has climbed more than 10% over the past five days and Coinbase shares have followed in-step with gains of nearly 10% as well. 

According to estimates from Benzinga Pro, Coinbase is expected to report earnings of 2 cents per share and quarterly revenue of $823.85 million. 

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COIN Stock Prediction 2024

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Coinbase Glb have an average 1-year price target of $125.73, representing an expected downside of 12.47%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. 5 analysts have bearish recommendations on Coinbase, while 5 analysts have bullish ratings. The street high price target from JMP Securities is $200 while the street low from Mizuho is $35.

COIN Price Action: According to Benzinga Pro, Coinbase Global shares are up 5.06% at $139.26 at the time of publication.

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