Coinbase stock holds $163 support before Q2 earnings

Coinbase stock traded near $164 on Wednesday as investors weighed weak Q2 revenue expectations against Rosenblatt’s $240 price target and growth in newer business lines. Summary COIN fell 2.07% to $164.43, remaining close to its 20-day and 50-day moving averages. Analysts expect Q2 revenue of $1.31 billion, down 12.8% from a year earlier. Rosenblatt maintained its Buy rating and $240 target, citing derivatives and prediction markets. An ADX reading of 10.22 signals weak momentum before the July 30 earnings release. Coinbase stock consolidates ahead of earnings Coinbase (COIN) shares traded at $164.43 on July 29, down 2.07% during the session after moving between $163.04 and $169.69. The stock has stabilized since falling below $140 in late June, but buyers have yet to establish a clear upward trend. The company will publish its second-quarter results after the market closes on July 30. Coinbase has also scheduled a question-and-answer session for 2 p.m. Pacific Time that day, according to its investor relations announcement. Wall Street expects revenue to reach approximately $1.31 billion for the April-to-June period. That would represent a 12.8% decline from the $1.50 billion repo...