Top 3 Crypto Stocks to Watch This Week: Coinbase, Robinhood, PayPal

Crypto stocks face a busy earnings calendar this week as investors assess the impact of weaker cryptocurrency markets.

Bitcoin traded near $80,800 on October 25 after retreating from its early-October highs. Coinbase, Robinhood, and PayPal will report quarterly results between October 27 and 29.

Their reports could clarify how weaker cryptocurrency activity affected trading revenue, payments, and other financial services.

Coinbase Stock on Edge Ahead of Earnings

COIN stock has been under pressure over the past few weeks, down from a high of $208 on September 21 to its current level of $164. This retreat has coincided with ongoing crypto market weakness, which has reduced market capitalization from nearly $3 trillion to $2.7 trillion.

Coinbase stock will be in the spotlight this week as it releases its third-quarter earnings, which will provide more information about its business. These earnings are expected to show modest improvement as Bitcoin and most altcoins rebounded towards the end of the quarter.

Yahoo Finance data shows that analysts expect the results to show that Coinbase made $1.2 billion Q3. If this is the correct figure, it will be a 34% decline from what it made in the same period last year.

Technically, the stock has come under pressure over the past few days, moving from a high of $208 to its current level of $164. Its highest point this month coincided with the highest point in March, April, and May. It has remained below the 50-day moving average. Therefore, a strong earnings report will likely lead to a rebound, while a weak one may drag it to the psychological level of $150.

Robinhood Stock Drops to Key Level Ahead of Earnings

Robinhood, a company that disrupted the stock brokerage industry, has also become one of the biggest players in the crypto industry. It offers crypto investing and trading solutions on its platform and on BitStamp. Indeed, its crypto business explains why the stock has remained under pressure this year.

The stock will be in the spotlight as it releases its financial results on Wednesday. Analysts expect the results to show that its revenue rose to $1.43 billion, up by 12.3% from a year earlier. Its earnings per share are expected to be 55 cents, down from 61 cents last year.

Technically, the earnings come at a time when the stock is at an important level. It has dropped to $95, which coincides with the lower side of the ascending channel. Also, it has moved below the 50-day and 200-day moving averages, a sign that bears are in control. Therefore, this price will likely continue falling.

PayPal Stock in Focus as its Earnings Loom

PayPal is another top crypto stock to watch this week as it publishes its financial results. These results come a few months after Stripe and Advent abandoned their acquisition bid for the company. PayPal wanted a higher offer from the two companies.

These earnings will provide more hints on its turnaround efforts. Analysts expect the results to show that its revenue remained under pressure last quarter amid continued industry competition.

The average estimate among analysts is that its revenue rose by just 3.4% in the third quarter to $8.71 billion. Its EPS is expected to be $1.31, down slightly from $1.34 in the same period last year.

In addition to these three, investors will focus on other crypto stocks in the Bitcoin mining industry like IREN, Riot Platforms, and MARA Holdings.

This article is for informational purposes only and does not constitute financial advice. Stock and cryptocurrency investments carry substantial volatility and potential capital losses. Readers should conduct independent research before making investment decisions.