Cryptocurrency behemoth Coinbase Global Inc. (NASDAQ:NVDA) is set to release its fourth-quarter financials on Thursday, and cryptocurrency bettors are speculating on a variety of topics that could be mentioned during the earnings call.
Stablecoins Dominating Market Predictions
“Stablecoins” had the highest odds at 96% on Polymarket, followed by “Custodial” or “Custody” at 94% and “SEC” at 87%.
Notably, Coinbase withdrew its support for the cryptocurrency market structure bill, primarily due to a clause that prohibits exchanges from paying interest or rewards on users’ stablecoin balances.
Moreover, Coinbase is seeking SEC approval for tokenized stocks, a topic that could come up for discussion during the call.
Punters also saw a 97% likelihood that Bitcoin (CRYPTO: BTC) gets discussed during the call.
Over $41,000 has been wagered on the outcomes as of this writing. The market will resolve to “Yes” if anyone mentions the above terms during the call, regardless of context.
Brian Armstrong’s Earnings Call Stunt
Let’s not forget Coinbase CEO Brian Armstrong ended the last earnings call by opening a prediction market tracking what he might say on the broadcast — and proceeded to read it aloud line by line. The moment drew laughter and applause on social media.
What Analysts Expect
Analysts estimate Coinbase to announce a revenue of $1.85 billion for the fourth quarter, down from $2.27 billion in the same quarter last year. The firm is expected to post earnings per share of 1.07, marking a 68% year-over-year decline
The stock has a consensus price target of $362.19 from 30 analysts. Based on the three most recent ratings, the average price target stands at $320.33, suggesting a potential upside of about 92.39%.
Price Action: Coinbase shares closing 1.29% higher at $167.25 during Monday’s regular trading hours, according to data from Benzinga Pro. Year-to-date, the stock has plummeted 26%.
COIN stock maintains a weaker price trend in the short, medium, and long term, with an average Value ranking, according to Benzinga’s Edge Stock Rankings.
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