硬币可以显示公司在加密货币生态系统中的领导地位，并取得第一季度财务业绩

分析师预计Coinbase将报告第一季度收入为21.3亿美元，高于去年第一季度的16.4亿美元

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）的股票可以显示该公司在加密货币生态系统中的领导能力，并在周三关闭市场后应将其第一季度财务业绩。

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

以下是分析师期望的和关键项目的仔细研究。

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.

收益估计：根据Benzinga Pro的数据，分析师预计Coinbase将报告第一季度收入为21.3亿美元，高于去年第一季度的16.4亿美元。

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

该公司击败了分析师在上一个报告的季度估计收入的估计，同时在过去10个季度中的八个中击败了估计。

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.

分析师预计，Coinbase将报告每股第一季度的收益为2.12美元，高于去年第一季度的1.65美元。该公司已经击败了分析师估计的连续八个季度的每股收益，而过去10个季度中的八个。

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.

分析师说的是：罗森布拉特分析师克里斯·布伦德勒（Chris Brendler）最近警告说，“加密冬季”可能会介入，这可能会伤害Coinbase Stock的动力。

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

这位分析师说，对加密货币的情绪扭转了“宏观的疑虑急剧上升”。

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

布伦德勒（Brendler）维持买入评级，并将目标目标从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.

分析师说，Coinbase在3月的交易量可能低于预期。布伦德勒（Brendler）看到2025年下半年与加密相关的交易活动反弹。

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

布伦德勒说：“我们认为，立法清晰度将加速区块链技术的采用，硬币将成为主要受益人。”

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.

高盛分析师詹姆斯·雅罗（James Yaro）认为，进入收益报告的coinbase有平衡的风险/回报。在威尔·南斯（Will Nance）涵盖该股票后，分析师接管了高盛（Goldman Sachs）的Coinbase。

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

Yaro开始覆盖Coinbase的中性评级和195美元的目标目标。

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

随着对加密货币部门的纯游戏暴露，随着加密生态系统的扩展，Yaro认为共同群的长期增长。

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

Yaro说：“我们对硬币持谨慎乐观的态度，但要看到上行和下行风险的平衡。”

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

Yaro强调了可以支持Coinbase增长的积极调节环境，但也是负面的。

“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.”

“长期，监管改革可能会增加加密TAM，但也会吸引来自跨金融服务的竞争对手。竞争可能会随着时间的流逝而施加巨大的压力。”

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

以下是Coinbase及其价格目标的其他最近分析师评级：

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.

要观看的关键项目：分析师和投资者将在Coinbase的收益报告中查看许多项目，比特币（Crypto：BTC）在1月份进行了强劲交易，然后在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％。这可能是表明Coinbase是否在加密货币生态系统中继续领导的关键项目，以及第一季度交易者是否活跃，唐纳德·特朗普（Donald Trump）在本季度开设了高波动性。

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.

订阅和服务一直是最近几个季度Coinbase的亮点，使该公司高利润经常性收入。第四季度的订阅和服务收入为6.41亿美元，四分之一季度上涨了15％，并在公司指导之前获得了。该公司正在指导第一季度订阅和服务收入的6.85亿至7.65亿美元。

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.

第四季度比特币占交易量和交易收入的27％。这是第三季度分别从37％和35％下降。新的季度结果将表明，由于其他加密货币，比特币是否恢复了其优势或较低的活动。

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）在第四季度弥补了14％的交易收入后，可能是另一个要注意的项目，并看到了Coinbase用户的强劲需求。

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.

硬币价格行动：周三的Coinbase股票下跌0.7％至195.47美元，而52周的交易范围为142.58美元至349.75美元。在2025年，Coinbase股票年满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的股价下跌，比特币年初至今增长了3.1％，比去年增长了54.5％。