Still, reduced operating expenses more than offset the revenue miss and contributed to a better adjusted Ebitda figure, said KBW, which has a market perform rating on the stock and a $165 price target. The analysts noted that retail trading volumes were higher than expected but were offset by a compression in the retail fee rate, adding that fourth-quarter commentary was also weak.
Source: https://www.coindesk.com/markets/2024/10/31/coinbase-third-quarter-revenue-misses-estimates-shares-fall-analysts/?utm_medium=referral&utm_source=rss&utm_campaign=headlines