Suchat longthara
With the price of Bitcoin (BTC-USD) more than recovering from its February to April decline, Coinbase Global, Inc. (NASDAQ:COIN) has also rallied significantly off its early April lows. Early April was when my previous article
Coinbase Likely Has Room To Run As Crypto Headwinds Fade
Summary
- Coinbase delivered respectable YoY revenue growth despite Q1 headwinds, with strong performance in subscription and services revenues, especially from stablecoin.
- QoQ transaction revenue declines appear temporary, as the rebound in crypto prices should drive stronger results in upcoming quarters.
- Valuation remains attractive, with the P/S ratio well below early 2024 highs, presenting a favorable entry point for investors.
- Technical indicators suggest current weakness is likely consolidation, with long-term momentum and fundamentals supporting a bullish outlook.
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