Wall Street Expects Brutal Coinbase Earnings. Why an Analyst Upgraded the Stock.

Wall Street is mostly muted ahead of earnings from


Coinbase Global


expecting to see deep losses and the lowest quarterly sales in two years from the cryptocurrency broker when the group reports earnings after the bell on Tuesday.

A generally downbeat tone from analysts—amid growing regulatory headwinds and few signs of a recovery in the key trading business—puts a remarkable recent rally from


Coinbase


(ticker: COIN) stock in the spotlight. But even though the shares are up more than 80% so far this year, at least one analyst sees room for more gains.