Analysts Forecast 5%-6% Q2 Revenue Miss as Coinbase Slides 28% YTD
COIN•Analysts Monness and Baird maintain negative ratings on Coinbase, forecasting Q2 revenue 5%-6% below expectations and highlighting a 28% YTD stock decline. Weak trading volumes have fueled a 12% short interest and testing of the $160 support level as Bitcoin slips under $60,000.
1. Bearish Analyst Ratings
Monness holds a Sell rating at $148.96 and Baird designates Coinbase a Bearish Fresh Pick, citing weakening trading volumes and pressure on fee-based revenue.
2. Projected Q2 Revenue Shortfall
Analysts predict Q2 revenue to fall 5%–6% below consensus as lower crypto trading activity erodes transaction and custody fee growth.
3. Share Price and Short Activity
The stock has tumbled 28% year-to-date and slid 9.23% to $148.98 in the latest session, with 12% of its float sold short as it tests the $160 support level.
4. Crypto Market Headwinds
Bitcoin’s drop below $60,000 and ongoing ETF outflows continue to depress trading volumes on Coinbase’s platform, raising concerns over near-term revenue sustainability.
