Coinbase Shares Down 8% Following Q3 Miss
<p><a href='https://financialmodelingprep.com/financial-summary/COIN'>Coinbase Global, Inc. (NASDAQ:COIN) </a>shares closed 8.06% on Wednesday, following the company’s reported Q3 results, with EPS coming in at $1.62, missing the consensus estimate of $1.73. Quarterly revenue of $1.3 billion, which missed the consensus estimate by 15.7%, was primarily driven by higher-than-expected institutional trading volume and relatively higher trading on Coinbase Pro, which has lower fee rates. Analysts at Oppenheimer shared their positive outlook on the company’s shares, which is based on a strong business model that includes: </p>
<p>(1) deep liquidity pool and strong network effect,</p>
<p>(2) trust from customers given its focus on regulatory compliance,</p>
<p>(3) strong brand as a secure platform,</p>
<p>(4) platform for innovation, which produces a virtuous cycle for monetization.</p>

NASDAQ:COIN