AI predicts Coinbase (COIN) stock price after Q2 earnings


AI predicts Coinbase (COIN) stock price after Q2 earnings

  finbold.com 02 August 2024 12:15, UTC

Coinbase Global Inc (NASDAQ: COIN) reported its Q2 2024 earnings with above-expectation results, although with lower profits than Q1. Finbold turned to OpenAI‘s leading artificial intelligence (AI) model, ChatGPT-4o, for insights on the stock‘s projected price for next year.

The company reported $1.45 billion in revenue, of which $780.90 million was transaction revenue. Notably, both were above the $1.39 billion and $745.10 million estimated by analysts.

On the other hand, Coinbase’s adjusted EBITDA came at $596 million, positive for the sixth consecutive quarter, although lower than the projected $607.7 million. These results are all worse than what the company presented in the first quarter, showing a decline, although still positive.

Right now, COIN is trading at $214.77 in the pre-market, 1% above August 1’s closing price of $212.64. Analysts were forecasting a $260,70 average price target for August 2025, with a $400 maximum and $145 minimum estimates. This data is from TradingView and considers the opinion of 25 analysts before the second quarter report.

ChatGPT-4o predicts COIN stock price for 2025

In this context, Finbold asked ChatGPT-4o for a COIN stock price prediction for August 2025. We provided the AI model with all the above information, resulting in an objective analysis and plausible price target update.

Overall, ChatGPT interprets Coinbase’s results as positive, showing steady growth over time despite some punctual deviations. According to the AI, the most likely scenario is that COIN stock should trade between $270 and $280 in 2025.

The bullish target is between $350 and $400, while the bearish target is between $150 and $160 per share. Interestingly, this projection resulted in a higher average and minimum forecast, with a more conservative maximum estimate.

Reaching the baseline target would result in gains between 27% and 32% from the last traded price on Thursday. However, stock traders and investors must understand that this scenario can change over the years, remaining cautious.

It is also important to note that Coinbase mostly follows the cryptocurrency market performance, which is influenced by external factors, and cryptocurrencies can be highly volatile assets.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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