Circle Internet Group, Inc. (NYSE:CRCL) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts rate Circle Internet Group “Hold” overall: Of 27 analysts, 14 recommend holding, 10 rate it a buy, two a sell and one a strong buy. The average 12-month price target is $104.18.
• CRCL shares have fallen sharply: The stock opened at $60.46, down 3.4%, well below its 50-day average of $74.97 and 200-day average of $86.47, with a 52-week range of $49.90 to $189.92.
• Recent results and insider activity offer mixed signals: Circle’s quarterly revenue rose 20% year over year to $694.13 million, but earnings per share of $0.21 missed estimates of $0.27. Insiders sold 1.9 million shares worth about $149.8 million over the past 90 days, including sales by CEO Jeremy Allaire and insider Nikhil Chandhok under pre-arranged plans.

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) have received a consensus recommendation of "Hold" from the twenty-seven ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $104.1765.

A number of brokerages have commented on CRCL. Raymond James Financial assumed coverage on Circle Internet Group in a research note on Tuesday, July 21st. They set a "market perform" rating on the stock. Compass Point set a $62.00 target price on Circle Internet Group in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $101.00 price target on shares of Circle Internet Group in a research report on Tuesday, May 12th. TD Cowen started coverage on Circle Internet Group in a report on Monday. They issued a "buy" rating and a $82.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective on shares of Circle Internet Group from $111.00 to $142.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th.

Insiders Place Their Bets

In other Circle Internet Group news, insider Nikhil Chandhok sold 489,737 shares of the business's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $72.37, for a total value of $35,442,266.69. Following the transaction, the insider owned 521,809 shares in the company, valued at $37,763,317.33. The trade was a 48.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Allaire sold 56,200 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $82.93, for a total transaction of $4,660,666.00. Following the completion of the transaction, the chief executive officer directly owned 510,579 shares of the company's stock, valued at approximately $42,342,316.47. The trade was a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,897,229 shares of company stock valued at $149,839,667. Corporate insiders own 10.85% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Bartlett & CO. Wealth Management LLC acquired a new stake in Circle Internet Group during the 4th quarter valued at approximately $25,000. Larson Financial Group LLC boosted its stake in shares of Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company's stock valued at $26,000 after buying an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Circle Internet Group during the second quarter worth approximately $27,000. Bellevue Asset Management LLC acquired a new stake in shares of Circle Internet Group during the fourth quarter worth approximately $29,000. Finally, Harbour Investments Inc. increased its stake in shares of Circle Internet Group by 170.0% in the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company's stock worth $30,000 after buying an additional 238 shares during the last quarter.

Circle Internet Group Trading Down 3.4%

Shares of CRCL stock opened at $60.46 on Tuesday. The company has a market cap of $15.03 billion, a PE ratio of -18.89 and a beta of 0.22. The company's fifty day simple moving average is $74.97 and its 200-day simple moving average is $86.47. Circle Internet Group has a 52 week low of $49.90 and a 52 week high of $189.92.

Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.06). Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The business had revenue of $694.13 million for the quarter. Circle Internet Group's revenue was up 20.0% compared to the same quarter last year. Equities research analysts expect that Circle Internet Group will post 0.79 EPS for the current fiscal year.

Circle Internet Group Company Profile

Circle Internet Group NYSE: CRCL is a financial technology company that builds infrastructure to enable businesses and developers to use and move money on public blockchains. Co-founded by Jeremy Allaire and Sean Neville, the company is best known as a principal issuer and steward of USDC, a dollar-pegged stablecoin developed through the CENTRE Consortium, which Circle co-founded with Coinbase. Jeremy Allaire serves as CEO and has been a visible leader in the company’s strategy and public engagement around digital currency and payments innovation.

Circle’s core products and services center on digital currency issuance and programmable payments.

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