![]() "Coinbase Global (COIN) stock forecast for 2025. "Jim Chanos Doubles Down On Coinbase Criticism: 'It Just Doesn't Work'." "Coinbase Lays Off Another 20% of Its Employees." "For Coinbase, FTX’s Bankruptcy Has Its Pluses and Minuses." "Global Cryptocurrency Market Cap Charts." "Coinbase cuts jobs again as cryptocurrencies extend fall." "Coinbase ‘tremendously overvalued’ as fee feast set to end, warns short-selling legend Jim Chanos." "Coinbase Disappoints With User Forecast, Revenue Miss." You can learn more about GOBankingRates’ processes and standards in our editorial policy. ![]() We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. Earnings per share saw a $2.43 loss, faring even worse than the $2.40 Refinitiv analysts had predicted, according to CNBC. Net revenue was down by more than half a year to date. The company had its second unprofitable quarter in a row, losing $545 million compared to a $406 million profit for the same quarter in 2021. 30, Coinbase reported disastrous results. In its most recent earnings report, released on Nov. As a result, tax rules that apply to property (but not real estate tax rules) transactions, like selling collectible coins or vintage cars that can appreciate in value, also apply to bitcoin, ethereum, and other cryptocurrencies. As part of the agreement, Google will use Coinbase Commerce and Coinbase Prime to process transactions and allow customers to store and trade cryptocurrencies. Buying and selling crypto is taxable because the IRS identifies crypto as property, not currency. This signals the company’s intent to grab a slice of the pie that is cloud services, which has been highly profitable for tech leader Amazon Web Services.ĭrawing on Google’s cloud infrastructure - and reducing its reliance on AWS - Coinbase is partnering with Google to allow Google’s customers to pay for their services using cryptocurrency, CNBC reported. The most bullish among them have price targets as high as $200.Ĭoinbase acquired a crypto infrastructure company, Bison Trails, in 2021, as part of its effort to build Coinbase Cloud. However, 26 analysts polled by CNN Business offered a median 12-month price forecast of $55, which is 4.6% lower than its current price. The economic landscape and the crypto markets could change drastically in a matter of months, making even a 12-month price target for Coinbase speculative. The consensus recommendation among 30 analysts polled by CNN Business is “hold.” What Is the Projection for Coinbase Stock in 12 Months? Yet there are clearly still plenty of believers in the stock’s future. ![]() Chanos later criticized Coinbase’s high-cost business model, saying that brokers like Fidelity and Vanguard would eventually undercut Coinbase for the same services the exchange provides. As Fortune reported in May, well-known investor Jim Chanos predicts the price of Coinbase stock will continue to fall in the year ahead based on increased competition and shrinking revenue, perhaps to as low as $23 per share.
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