On July 31, Coinbase Global, Inc. fell 6.21% in after-hours trading, trading at $155.0/share, with turnover of approximately $90.64 million. The decline was triggered by the company's Q2 earnings report that significantly missed Wall Street expectations on both top and bottom lines.

Coinbase Global, Inc. reported an adjusted loss of $(0.40) per share for the quarter, missing the analyst consensus estimate of $(0.11) by 263.64%. Revenue came in at $1.220 billion, falling short of the $1.316 billion estimate. The results represent a 433.33% decrease compared to earnings of $0.12 per share in the prior-year period. The miss comes amid a period where multiple analysts had already trimmed their price targets, with Piper Sandler cutting to $155, Oppenheimer lowering to $209, and Clear Street reducing to $225. Additionally, the company faced recurring platform performance issues in recent weeks, including delays in payment processing, search functionality outages, and prediction market trading disruptions.

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