硬幣可以顯示公司在加密貨幣生態系統中的領導地位，並取得第一季度財務業績

分析師預計Coinbase將報告第一季度收入為21.3億美元，高於去年第一季度的16.4億美元

Coinbase Global (NASDAQ:COIN) stock could show the company's leadership in the cryptocurrency ecosystem with first-quarter financial results due after the market close on Wednesday.

Coinbase Global（NASDAQ：COIN）的股票可以顯示該公司在加密貨幣生態系統中的領導能力，並在周三關閉市場後應將其第一季度財務業績。

Here's a closer look at what analysts are expecting and key items to watch.

以下是分析師期望的和關鍵項目的仔細研究。

Earnings Estimates: Analysts expect Coinbase to report first-quarter revenue of $2.13 billion, up from $1.64 billion in last year's first quarter, according to data from Benzinga Pro.

收益估計：根據Benzinga Pro的數據，分析師預計Coinbase將報告第一季度收入為21.3億美元，高於去年第一季度的16.4億美元。

The company beat analyst estimates for revenue in the last reported quarter, while beating estimates in eight of the last 10 quarters overall.

該公司擊敗了分析師在上一個報告的季度估計收入的估計，同時在過去10個季度中的八個中擊敗了估計。

Analysts expect Coinbase to report first-quarter earnings per share of $2.12, up from $1.65 in last year's first quarter. The company has beaten analyst estimates for earnings per share in eight straight quarters and eight of the last 10 quarters overall.

分析師預計，Coinbase將報告每股第一季度的收益為2.12美元，高於去年第一季度的1.65美元。該公司已經擊敗了分析師估計的連續八個季度的每股收益，而過去10個季度中的八個。

What Analysts Are Saying: Rosenblatt analyst Chris Brendler recently warned that "crypto winter" could be setting in and it could hurt momentum for Coinbase stock.

分析師說的是：羅森布拉特分析師克里斯·布倫德勒（Chris Brendler）最近警告說，“加密冬季”可能會介入，這可能會傷害Coinbase Stock的動力。

The analyst said sentiment on crypto has reversed with "sharply rising macro concerns."

這位分析師說，對加密貨幣的情緒扭轉了“宏觀的疑慮急劇上升”。

Brendler maintained a Buy rating and lowered the price target from $305 to $290.

布倫德勒（Brendler）維持買入評級，並將目標目標從305美元降低到290美元。

The analyst said Coinbase's trading volumes in March were likely lower than expected. Brendler sees a rebound in crypto-related trading activity in the second half of 2025.

分析師說，Coinbase在3月的交易量可能低於預期。布倫德勒（Brendler）看到2025年下半年與加密相關的交易活動反彈。

"In our view, legislative clarity will accelerate blockchain technology adoption and COIN will be a primary beneficiary," Brendler stated.

布倫德勒說：“我們認為，立法清晰度將加速區塊鏈技術的採用，硬幣將成為主要受益人。”

Goldman Sachs analyst James Yaro sees a balanced risk/reward for Coinbase heading into the earnings report. The analyst took over coverage of Coinbase at Goldman Sachs after the stock was previously covered by Will Nance.

高盛分析師詹姆斯·雅羅（James Yaro）認為，進入收益報告的coinbase有平衡的風險/回報。在威爾·南斯（Will Nance）涵蓋該股票後，分析師接管了高盛（Goldman Sachs）的Coinbase。

Yaro started coverage of Coinbase with a Neutral rating and a $195 price target.

Yaro開始覆蓋Coinbase的中性評級和195美元的目標目標。

With pure-play exposure to the cryptocurrency sector, Yaro sees long-term growth for Coinbase as the crypto ecosystem expands.

隨著對加密貨幣部門的純遊戲暴露，隨著加密生態系統的擴展，Yaro認為共同群的長期增長。

“We are cautiously optimistic on COIN, but see a balance of upside and downside risks,” Yaro said.

Yaro說：“我們對硬幣持謹慎樂觀的態度，但要看到上行和下行風險的平衡。”

Yaro highlights a positive regulatory environment for crypto that could support Coinbase’s growth, but also be a negative.

Yaro強調了可以支持Coinbase增長的積極調節環境，但也是負面的。

“Longer-term, regulatory reform could increase the crypto TAM, but also bring in competitors from across financial services. Competition could pressure COIN’s market share and pricing over time.”

“長期，監管改革可能會增加加密TAM，但也會吸引來自跨金融服務的競爭對手。競爭可能會隨著時間的流逝而施加巨大的壓力。”

Here are other recent analyst ratings on Coinbase and their price targets:

以下是Coinbase及其價格目標的其他最近分析師評級：

Key Items to Watch: Analysts and investors will be looking at many items in Coinbase's earnings report with the price of Bitcoin (CRYPTO: BTC) trading strong in January before falling in March.

要觀看的關鍵項目：分析師和投資者將在Coinbase的收益報告中查看許多項目，比特幣（Crypto：BTC）在1月份進行了強勁交易，然後在3月跌倒。

Transaction revenue was up 172% quarter-over-quarter in the fourth quarter. This could be a key item to show whether Coinbase continues its leadership in the cryptocurrency ecosystem and also if traders were active in the first quarter with Donald Trump inaugurated and high volatility during the quarter.

交易收入在第四季度上升了四分之一季度的172％。這可能是表明Coinbase是否在加密貨幣生態系統中繼續領導的關鍵項目，以及第一季度交易者是否活躍，唐納德·特朗普（Donald Trump）在本季度開設了高波動性。

Subscription and services has been a bright spot for Coinbase in recent quarters, bringing the company high-margin recurring revenue. Subscription and services revenue of $641 million in the fourth quarter was up 15% quarter-over-quarter and came in ahead of company guidance. The company is guiding for first-quarter subscription and services revenue in a range of $685 million to $765 million.

訂閱和服務一直是最近幾個季度Coinbase的亮點，使該公司高利潤經常性收入。第四季度的訂閱和服務收入為6.41億美元，四分之一季度上漲了15％，並在公司指導之前獲得了。該公司正在指導第一季度訂閱和服務收入的6.85億至7.65億美元。

Bitcoin made up 27% of both trading volume and transaction revenue in the fourth quarter. This was down from 37% and 35% respectively, in the third quarter. The new quarterly results will show if Bitcoin regained its dominance or saw lower activity due to other cryptocurrencies.

第四季度比特幣佔交易量和交易收入的27％。這是第三季度分別從37％和35％下降。新的季度結果將表明，由於其他加密貨幣，比特幣是否恢復了其優勢或較低的活動。

XRP Token (CRYPTO: XRP) could be another item to watch after making up 14% of transaction revenue in the fourth quarter and seeing strong demand from Coinbase users.

XRP令牌（加密：XRP）在第四季度彌補了14％的交易收入後，可能是另一個要注意的項目，並看到了Coinbase用戶的強勁需求。

COIN Price Action: Coinbase stock is down 0.7% to $195.47 on Wednesday versus a 52-week trading range of $142.58 to $349.75. Coinbase stock is down 21.4% year-to-date in 2025 and down 8.9% over the last year.

硬幣價格行動：週三的Coinbase股票下跌0.7％至195.47美元，而52週的交易範圍為142.58美元至349.75美元。在2025年，Coinbase股票年滿21.4％，比去年下降了8.9％。

The drop in Coinbase's stock price comes with Bitcoin up 3.1% year-to-date and up 54.5% over the last year.

Coinbase的股價下跌，比特幣年初至今增長了3.1％，比去年增長了54.5％。