Wall Street analysts passed mixed judgement on Coinbase (COIN) after its first-quarter earnings miss and a $2.9 billion acquisition, with some downgrading near-term forecasts and others pointing to long-term strategic wins.
“Q1 results came in a bit below expectations, and forward-looking guidance for [subscription and service] revenues and April [transaction] volumes were impacted by softer crypto markets and mix/rebates,” Barclay’s Benjamin Buddish, who maintained an “equal weight” rating, wrote in a report. “Otherwise, COIN saw nice trading share gains in both spot and futures in Q1, and remains quite optimistic.”
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Author: Helene Braun
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