From COIN to PYPL: Crypto-focused stocks to explore in March

Highlights

• Coinbase Global, Inc. (NASDAQ: COIN) reported revenue of US$7.83 billion in fiscal 2021.
  
  
• PayPal Holdings, Inc. (NASDAQ: PYPL) revenue rose 13% YoY in Q4, FY21.
  
  
• Canaan Inc. (NASDAQ: CAN) will report its fourth-quarter and fiscal 2021 results on March 3, before the market opens.

The cryptocurrency market is gaining traction amid the Russia-Ukraine conflict.

On Monday, the market was up 8.23% to US$1.85 trillion at 3:41 pm ET, helped by Bitcoin’s (BTC) robust 10.03% jump to US$41,535.93 in the last 24 hours. 

Here we explore five stocks that offer cryptocurrency services.

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Coinbase Global, Inc. (NASDAQ: COIN) 

Coinbase Global is one of the leading cryptocurrency exchanges. It provides end-to-end financial infrastructure and technology. It offers trading in cryptos like Bitcoin, Ethereum (ETH), etc.

Its shares traded at US$184.915 at 12:42 pm ET on February 28, up 4.57% from their previous closing price. Its stock value decreased by 46.13% over the past 12 months.

The firm has a market cap of US$49.05 billion, a P/E ratio of 13, and a forward one-year P/E ratio of 22.99. Its EPS is US$14.41.

The 52-week highest and lowest stock prices were US$429.54 and US$155.92, respectively. Its trading volume was 6,836,807 on February 25.

The company's revenue increased by over 400% YoY to US$2.49 billion in Q4, FY21, while its net income came in at US$840.20 million, or US$3.32 per diluted share. For the full year, its total revenue was US$7.83 billion.

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PayPal Holdings, Inc. (NASDAQ: PYPL) 

PayPal is a leading financial technology company based in San Jose, California. Its digital wallet and peer-to-peer payments app have supported crypto trading since early 2021.

The stock of the company traded at US$110.42 at 12:58 pm ET on February 28, down 0.47% from its previous closing price. The PYPL stock fell 59.46% over the past 12 months.

The market cap of the company is US$128.42 billion, the P/E ratio is 31.32, and the forward one-year P/E ratio is 32.44. Its EPS is US$3.52.

The stock saw the highest price of US$310.16 and the lowest price of US$94.50 in the last 52 weeks. Its share volume on February 25 was 33,806,880.

On a GAAP basis, the company's revenue surged 13% YoY to US$6.91 billion in Q4, FY21, while its net income came in at US$801 million, or US$0.68 per diluted share. In fiscal 2021, the company's revenue was US$25.37 billion.

For Q1, FY22, the company expects its GAAP earnings per diluted share to be around US$0.50, compared to US$0.92 in the year-ago period.

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Canaan Inc. (NASDAQ: CAN) 

Canaan is a computer hardware manufacturer based in Beijing. The company specializes in blockchain servers and application-specific integrated circuit (ASIC) microprocessors for Bitcoin mining.

The shares of the company traded at US$5.2387 at 1:09 pm ET on February 28, up 4.98% from their closing price of February 25. Its stock value tumbled 77.57% over the past 12 months.

The firm has a market cap of US$879.34 million and a P/E ratio of 9.2. Its EPS is US$0.56.

The 52-week highest and lowest stock prices were US$39.10 and US$3.50, respectively. Its trading volume was 1,651,983 on February 25.

The company will report its fourth-quarter and full-year 2021 financial results on March 3, before the opening bell.

Meanwhile, in the third quarter of fiscal 2021, the company's total net revenue was US$204.49 million, while its net income came in at US$72.51 million, or US$2.73 per diluted share.

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Hut 8 Mining Corp. (NASDAQ: HUT)

Hut 8 Mining is one of the most popular Bitcoin (BTC) mining companies based in Toronto, Canada. It owns a minority stake in the overall BTC network and uses wind, solar, and natural gas resources for the electricity required for mining.

The stock of the company traded at US$6.025 at 1:15 pm ET on February 28, up 4.97% from its previous closing price. The HUT stock plunged 36.57% over the past 12 months.

The market cap of the company is US$1.00 billion, the P/E ratio is 14.28, and the forward one-year P/E ratio is 30.21. Its EPS is US$0.42.

The stock saw the highest price of US$16.57 and the lowest price of US$3.15 in the last 52 weeks. Its share volume on February 25 was 5,175,815.

The company's total revenue was C50.34 million (US$39.66 million) in Q3, FY21, compared to C$5.75 million (US$4.53 million) in the year-ago quarter. Its net income came in at C$23.37 million (US$18.41 million), or C$0.15 (US$0.12) per diluted share.

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Marathon Digital Holdings, Inc. (NASDAQ: MARA) 

Marathon Digital Holdings is a digital asset technology firm that focuses on crypto mining and the blockchain ecosystem. It is based in Las Vegas, Nevada.

The shares of the company traded at US$24.79 at 1:22 pm ET on February 28, up 7.46% from their closing price of February 25. Its stock value declined 40.08% over the past 12 months.

The firm has a market cap of US$2.58 billion, and its EPS is US$-0.54.

The 52-week highest and lowest stock prices were US$83.45 and US$18.32, respectively. Its trading volume was 12,124,660 on February 25.

The company's revenue surged 6091% YoY to US$51.7 million in Q3, FY21, while its net loss came in at US$22.17 million, or US$0.22 per share.

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Bottom line:

The current volatility in the market has reduced the risk-taking appetite of investors. The market is expected to remain volatile due to the Russia-Ukraine crisis and macroeconomic concerns. Hence, investors should carefully evaluate the companies before investing in stocks.