Analyst: Coinbase Q3 revenue is expected to drop by about 13% due to declining trading volume and regulatory uncertainty

Odaily News Wall Street analysts expect Coinbase's (COIN) spot trading volumes to slow further in the third quarter, partly due to a lack of catalysts in the crypto market and an uncertain regulatory environment ahead of the presidential election. Coinbase expects third-quarter revenue to fall by about 13% to $1.26 billion from $1.45 billion in the previous quarter when it reports earnings after the market close on Wednesday, according to FactSet estimates. Earnings per share (EPS), meanwhile, are expected to be $0.46, up from $0.14 in the second quarter. "Coinbase's trading volumes continued to be weak in the quarter, primarily due to weak retail trading revenue," Barclays analyst Benjamin Buddish wrote in a note. He gave the stock an equal-weight rating and raised its price target to $175 from $169, while lowering its third-quarter EPS estimate to $1.05 from $1.62. (CoinDesk)