Circle Internet Group (NYSE:CRCL) Announces Quarterly Earnings Results

Key Points

• Circle Internet Group reported a quarterly loss of ($4.48) EPS, significantly missing analysts' expectations of $0.34 by ($4.82), despite a 53.0% increase in revenue year-over-year.
• The company's stock performance is reflected in a current market capitalization of $40.79 billion with a P/E ratio of -14,483.96, and analysts show a mixed outlook with a consensus rating of "Hold" and an average price target of $175.27.
• Recent insider selling included the Director, Patrick Sean Neville, selling 1,000,000 shares for $29.30 each, contributing to a total insider sale of around $195.8 million in the last 90 days.

Circle Internet Group (NYSE:CRCL - Get Free Report) released its earnings results on Tuesday. The company reported ($4.48) EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($4.82), Briefing.com reports. Circle Internet Group's revenue was up 53.0% on a year-over-year basis.

Circle Internet Group Trading Up 1.3%

CRCL traded up $2.07 during trading hours on Tuesday, hitting $163.24. The company's stock had a trading volume of 33,180,765 shares, compared to its average volume of 15,034,166. The firm has a 50-day moving average of $185.63. Circle Internet Group has a 12 month low of $64.00 and a 12 month high of $298.99. The firm has a market cap of $36.33 billion and a PE ratio of -12,900.27.

Insider Buying and Selling

In related news, CEO Jeremy Allaire sold 1,582,160 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $29.30, for a total value of $46,357,288.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeremy Fox-Geen sold 200,000 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $5,860,000.00. Following the completion of the sale, the chief financial officer owned 320,371 shares in the company, valued at $9,386,870.30. This represents a 38.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,682,884 shares of company stock valued at $195,808,501 in the last three months.

Institutional Investors Weigh In On Circle Internet Group

A hedge fund recently bought a new stake in Circle Internet Group stock. Creative Planning acquired a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,627 shares of the company's stock, valued at approximately $295,000.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Mizuho set a $85.00 target price on shares of Circle Internet Group in a research note on Tuesday. Robert W. Baird initiated coverage on shares of Circle Internet Group in a research note on Friday, July 11th. They set a "neutral" rating and a $210.00 target price on the stock. Wall Street Zen downgraded Circle Internet Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Canaccord Genuity Group initiated coverage on Circle Internet Group in a research note on Monday, June 30th. They set a "buy" rating and a $247.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Circle Internet Group in a research report on Tuesday. They set a "neutral" rating and a $83.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Circle Internet Group currently has an average rating of "Hold" and a consensus target price of $175.27.

About Circle Internet Group

Founded in 2013, Circle's mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.