Coinbase Likely to Top Q3 Trading, Revenue Estimates on Bitcoin Volatility: Oppenheimer

Posted on by American Coins & Gold

Coinbase Likely to Top Q3 Trading, Revenue Estimates on Bitcoin Volatility: Oppenheimer
Coinbase (Nasdaq: COIN) is likely to top consensus estimates for trading volume and total revenue for the third quarter due to recent volatility in the price of bitcoin, according to Oppenheimer analyst Owen Lau.Lau estimates there is an 18% potential upside to trading volume and an 11% upside to total revenue estimates, citing the exchange’s “substantially” improved trading volume in the second half of the third quarter.Coinbase shares had a “rough” September with the stock down 12.2% versus the S&P 500′s 4.8% dip – likely hurt by increased regulatory scrutiny, the retreat of bitcoin, the company’s move to preemptively end…