Coinbase Global Coin可以显示该公司在加密货币生态系统中的领导

输入：Coinbase Global Coin可以显示公司在加密货币生态系统中的领导

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

Coinbase Global（NASDAQ：COIN）股票可以以第一季度财务业绩显示公司在加密货币生态系统中的领导。

What Happened: Analysts at Benzinga Pro expect Coinbase to report first-quarter revenue of $2.13 billion, up from $1.64 billion in last year's first quarter.

发生了什么：Benzinga Pro的分析师预计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, on average, anticipate earnings per share of $2.12 for the quarter, compared to $1.65 from last year's first quarter.

分析师平均预计该季度的每股收益为2.12美元，而去年的第一季度为1.65美元。

The company has a strong track record of beating expectations, having exceeded analyst estimates for earnings per share in the last eight straight quarters and eight of the last 10 quarters overall.

该公司在超过期望的良好记录中，已经超过了最近八个季度的每股收益的分析师估计，而过去10个季度中的八个。

Recently, Rosenblatt analyst Chris Brendler said he expects "crypto winter" to continue and could hurt momentum for Coinbase stock.

最近，罗森布拉特分析师克里斯·布伦德勒（Chris Brendler）表示，他希望“加密冬季”将继续，并可能伤害Coinbase Stock的动力。

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

分析师说，对加密货币的情绪扭转了宏观的疑虑。

Brendler rates the stock a Buy and lowered the price target from $305 to $290.

布伦德勒（Brendler）对股票的买入进行了评级，并将价格目标从305美元降低到290美元。

The analyst said he believes 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.

这位分析师说，他认为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 said.

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.

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。

Yaro took over coverage of Coinbase at Goldman Sachs after the stock was previously covered by Will Nance.

在威尔·南斯（Will Nance）涵盖该股票后，Yaro接管了高盛（Goldman Sachs）的Coinbase。

Yaro gave Coinbase a Neutral rating and a $195 price target.

Yaro给Coinbase的评级为中性，目标价为195美元。

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 (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，而比特币（BTC）在1月份进行了强劲交易的价格，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 being 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）在本季度开幕和高波动性。

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 (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（XRP）在第四季度弥补了交易收入的14％并看到Coinbase用户的需求强劲后，可能是另一个值得关注的项目。

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.

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。

Coinbase stock is down 21.4% year-to-date in 2025 and down 8.9% over the last year.

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％。

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