Dear Coinbase Stock Fans, Mark Your Calendars for December 17

The crypto market is entering a new phase, one defined by tangible real-world utility. Institutional adoption is gaining traction and major banks like JPMorgan Chase (JPM) are further integrating capabilities. Monness Crespi Hardt analyst Gus Galá recently noted that crypto’s “utility era” is beginning, a shift that’s fueling optimism across the sector and pushing investor attention toward key players like Coinbase (COIN).

Coinbase, the leading U.S.-based blockchain infrastructure company, has been at the center of this resurgence. Its stock is up 5.5% year-to-date (YTD), as investors applaud its strong Q3 results and bold expansion strategy.

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Now, all eyes are turning to Dec. 17. Could that be the day Coinbase cements its role as the gateway between Wall Street and the decentralized web? Let’s dive in.

Coinbase’s Current Performance

COIN operates as a blockchain infrastructure provider, connecting millions of customers to crypto assets globally, and carries a market capitalization standing at roughly $76.6 billion.

COIN stock trades at a trailing price/earnings ratio of 26.30x versus the sector median of 11.81x, and a forward price/earnings ratio of 37.73x against a sector median of 10.87x. These metrics highlight how capital is pricing in COIN's higher growth expectations.

This quarter, on Nov. 5, Coinbase delivered an earnings report that impressed analysts across the board. The company posted Q3 revenue of $1.87 billion, a 55.1% increase from the previous year, and topped consensus by $90 million. It reported a non-GAAP profit per share of $1.44, outpacing analyst estimates by 23.2% as the business continued to build momentum.

Coinbase’s Tokenization Phase Unveiled

COIN could benefit from SEC clarity on tokenized equities, with investors eyeing a Dec. 17 product event that may unveil on-chain offerings. Traders are watching for signals on distribution, compliance, and monetization as tokenized markets edge closer to the U.S. debut.

Adding regulatory tailwinds, the passage of the GENIUS Act stands as a landmark moment. The bill creates clear regulatory rules for stablecoin issuers, giving non-bank firms like Coinbase the ability to issue and profit from digital dollars. This move shields Coinbase from potential regulatory threats that might otherwise restrict its most lucrative revenue streams. That clarity safeguards a meaningful revenue stream and reduces policy overhang.

Coinbase has been busy this year, making waves with its eighth acquisition of 2025. The company paid around $375 million for Echo, the leading on-chain capital raising platform, using both cash and stock. The acquisition joins their earlier purchase of Liquifi and builds out a full-stack platform for digital asset issuance.

And yet, COIN didn’t stop with Echo. It announced a partnership with JPMorgan Chase, setting up a direct bank-to-wallet connection for Chase customers and allowing Chase cardholders to fund their Coinbase accounts.

On the acquisition front, Coinbase is in advanced talks to acquire the stablecoin firm BVNK, with the price tag ranging from $1.5 billion to $2.5 billion. If completed, that deal will cement Coinbase’s role in blockchain-powered payments and help shift its revenue mix away from trading fees and towards scalable payment services.

Earning Hopes and Clear Targets

Digging into earnings estimates brings the picture into sharper focus. For the current quarter ending in December, the average earnings estimate sits at $1.12 per share, versus $3.39 in the prior year, implying a 66.96% year-over-year (YOY) decline. For the fiscal year, the average earnings estimate is $4.59 per share, compared with $7.60 last year, indicating a 40.26% YOY contraction. These numbers illustrate a digestion phase as Coinbase invests and resets its earnings base ahead of new product cycles, with investors watching how Dec. 17 could shape near-term revisions.

Consensus remains constructive despite the near-term dips in estimates. Right now, 33 analysts surveyed rate COIN a “Moderate Buy.” The average price target is $391.33, implying roughly 50% upside.

Conclusion

Overall, Coinbase is setting the pace for what’s next in crypto, with Dec. 17 shaping up as a real test of vision and execution. No matter how you slice it, the next move is one to watch.

On the date of publication, Ebube Jones did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

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