Cryptocurrency exchange giant Coinbase Global (NASDAQ:COIN) could create volatility for the crypto sector when the company reports first-quarter financial results Thursday after market close.Here are the earnings estimates, what analysts are saying ahead of the report and the key items to watch. • Coinbase Global stock is showing downward pressure. Where is COIN stock headed?<h2>Coinbase Q1 Earnings Estimates</h2>Analysts expect Coinbase to report first-quarter revenue of $1.50 billion, down from $2.03 billion in last year's first quarter, according to data from Benzinga Pro.The company has missed analyst estimates for revenue in four of the last six quarters, while beating estimates in six of the last 10 quarters overall.Analysts expect Coinbase to report 26 cents per share in earnings for the first quarter, down from $1.94 per share in last year's first quarter.The company has beaten analyst estimates for earnings per share in eight of the past 10 quarters, while missing estimates in the most recently reported fourth quarter.<div>Read Also:Coinbase Is Gutting Middle Management—And Rebuilding Around AI</div><h2>What Coinbase Analysts Are Saying</h2>Coinbase recently announced a round of layoffs, which Rosenblatt analyst Chris Brendler said could reflect &#34;challenging conditions&#34; for the company.The analyst reiterated a Buy rating with a price target of $240 ahead of earnings.Brendler is lowering estimates based on weaker trading activity and pressure on stablecoin revenue.&#34;We see better days ahead as CLARITY should spur price recovery and add tailwinds not only to the core franchise but also COIN's expanding product suite,&#34; Brendler said.The analyst says Coinbase remains &#34;the best positioned name in crypto.&#34;&#34;While near-term results remain under pressure, we believe investors are underestimating the long-term impact of COIN's expanding product ecosystem.&#34;Benchmark analyst Mark Palmer recently cut the price target on Coinbase stock from $267 to $260, while maintaining a Buy rating.The analyst is lowering estimates on Coinbase due to the challenging trading environment for the crypto sector.&#34;Continued diversification efforts and CLARITY Act progress keep us bullish,&#34; Palmer said.Palmer expects subscription and services revenue to show some &#34;resilience&#34; in the quarter.The recent news of the job cuts is a move towards an &#34;AI-first operating model&#34; and less about cost-cutting, Palmer said.Palmer expects Coinbase to be &#34;one of the primary beneficiaries of the CLARITY Act.&#34;<h2>Key Items to Watch</h2>Coinbase missed estimates from analysts for both revenue and earnings per share in the fourth quarter. Investors and analysts will be looking for something of a turnaround effort in the first quarter.The layoff news, which will see the company cut around 14% of its global workforce, will likely overshadow results given the timing of the announcement right before earnings. The company could use the cost savings from the effort as a positive for guidance. Transaction revenue fell in the fourth quarter from the prior year and prior quarter, while subscription and services revenue was up on a year-over-year basis.The company has worked on diversifying away from transaction revenue, with 12 products now having annualized revenue of $100 million. That diversification could help in the first quarter. This is part of the company’s goal of being the “everything exchange,” an item that got renewed focus in the fourth-quarter shareholder letter. Also potentially helping could be the price of Bitcoin (CRYPTO: BTC) in the first quarter. Bitcoin traded over $90,000 in January before falling to around $69,000 by the end of the first quarter. The volatility in the leading cryptocurrency may have led to more trading in the sector.Bitcoin is rebounding in the second quarter with the price over $81,000 at the time of writing. This rebound could be a key topic for guidance and future expectations.Overall, Coinbase's quarter could be a disappointment, but one that sets up opportunities and expectations for the rest of the year and for when and if the CLARITY Act passes.<h2>Coinbase Stock Price Action</h2>Coinbase stock is down slightly to $196.25 on Wednesday versus a 52-week trading range of $139.36 to $444.65. Coinbase stock is down 13.5% year-to-date in 2026 and nearly flat over the last 52 weeks.<div>Read Also:Coinbase CEO Brian Armstrong Says 'Mark It Up' After Reported Compromise On Clarity Act's Stablecoin Yields Clause</div>Image via Shutterstock By Thrive Studios ID

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Coinbase Global (NASDAQ:COIN) is set to report its Q1 financial results, which may impact the crypto sector. Analysts predict a revenue drop to $1.50 billion and earnings of 26 cents per share. Recent layoffs reflect challenging conditions, but analysts maintain a positive outlook, citing long-term growth potential. Key items to watch include transaction revenue trends and the impact of Bitcoin's price fluctuations. Coinbase stock is currently down to $196.25, with a year-to-date decline of 13.5%.

- Coinbase Global is set to report first-quarter financial results, with expectations of a decline in revenue to $1.50 billion and earnings per share of 26 cents, both below last year's figures.  
- Analysts attribute recent layoffs to challenging conditions but maintain positive long-term outlooks, anticipating benefits from diversified products and the potential CLARITY Act.  
- Coinbase's stock has faced downward pressure, closing at $196.25, down 13.5% year-to-date, amid a volatile crypto market influenced by Bitcoin price fluctuations.

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Coinbase Q1 Preview: 'Everything Exchange' Dream Faces First Test After Shock Layoffs