Coinbase’s stock has seen a 37% increase in the past week, along with a recent surge in the price of Bitcoin. Analysts expect the company’s fourth-quarter results, which will be reported on Thursday, to show strong numbers.
MarketWatch and FactSet have aggregated data to estimate that Coinbase will experience a 22% increase in revenue compared to the third quarter, bringing it to $825 million.
This growth is predicted to be driven by high trading volumes, with projections suggesting a near doubling from $76 billion in Q3 to $142.7 billion in Q4.
The consensus among analysts is that Coinbase will report earnings-per-share of $0.02 in the fourth quarter, an improvement from the previously reported loss of $0.01 per share in the third quarter.
This positive trend coincides with the price of Bitcoin rising by 16.3% in the last seven days, according to data from Coinmarketcap.
