Coverage summary
Aardvark Labs Capital Research has covered Coinbase Global (COIN) since May 9, 2025. The company is in the Financial Services sector. This page lists 8 reports: 7 earnings recaps and 1 earnings preview.
The latest is the Q3 2026 Earnings Recap, published October 30, 2026. That report moved the rating from Hold to Outperform. The rating has changed 3 times since coverage began.
Translations: 7 in Chinese.
The Excel model for COIN holds 22 quarters and 5 fiscal years of history and 10 quarters and 5 fiscal years of projections. It was last updated October 19, 2026.
Rating history
All COIN reports
Recap: Q3 2026
Revenue Held Flat While Market Volume Fell 10%, and the Hack-Day Sell-Off Hands Us the Entry: Upgrading to Outperform
Recap: Q2 2026
Record Share, Shrinking Pie: Cost Discipline Is Losing the Race to the Revenue Reset
Recap: Q1 2026
Call Confirms the Cyclical Reset; 2026 Adjusted-OpEx Framework of $4.3–4.6B is the New Anchor — Maintaining Hold
Flashcap: Q1 2026
Double Miss, $(1.49) GAAP Loss, and a Q2 S&S Guide Below Consensus — The Q4 Hold Caution Was the Right Call; Maintaining
Recap: Q4 2025
Diversification Confirms, Cycle Bites, and the Everything Exchange Buys Time — Maintaining Hold.
Recap: Q3 2025
Everything Exchange Builds, Deribit Lands, USDC Compounds — but Circle Marks and an October Fade Pull Us Back to Hold from Outperform.
Recap: Q2 2025
Cyclical Trough, Structural Inflection — GENIUS Act, Deribit, US Perps, and a July Restart Reframe the Multi-Year Setup; Upgrading to Outperform
Recap: Q1 2025
Subscription Engine Hits a Record, Transaction Line Slips Mid-Cycle, $2.9B Deribit Deal Resets the Derivatives Footprint — Initiating Coverage at Hold