Circle Internet Group (NYSE:CRCL) Shares Gap Up - Should You Buy?

Key Points

• Circle Internet Group (NYSE:CRCL) shares gapped up before trading, opening at $186.30 after a previous close of $161.17, with a trading volume of over 11 million shares.
• Analysts have differing views on Circle's stock, with ratings ranging from "strong buy" to "sell," and a consensus target price of $175.27.
• The company reported a significant earnings miss in its latest quarterly data, with an EPS of ($4.48), but a 53% increase in revenue compared to the previous year.

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $161.17, but opened at $186.30. Circle Internet Group shares last traded at $172.21, with a volume of 11,351,241 shares traded.

Wall Street Analysts Forecast Growth

CRCL has been the subject of several analyst reports. Seaport Res Ptn raised Circle Internet Group to a "strong-buy" rating in a research note on Friday, June 20th. Citigroup initiated coverage on shares of Circle Internet Group in a report on Monday, June 30th. They set a "buy" rating and a $243.00 price target on the stock. Baird R W upgraded shares of Circle Internet Group to a "hold" rating in a report on Friday, July 11th. Mizuho set a $85.00 price target on shares of Circle Internet Group in a report on Tuesday. Finally, Oppenheimer initiated coverage on shares of Circle Internet Group in a report on Tuesday. They set a "market perform" rating on the stock. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $175.27.

Circle Internet Group Stock Up 5.5%

The company has a 50 day moving average of $186.13. The stock has a market cap of $37.85 billion and a PE ratio of -13,440.02.

Circle Internet Group (NYSE:CRCL - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($4.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($4.82). The company's quarterly revenue was up 53.0% compared to the same quarter last year.

Insider Buying and Selling at Circle Internet Group

In other news, insider Nikhil Chandhok sold 300,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $8,790,000.00. Following the completion of the transaction, the insider directly owned 605,580 shares of the company's stock, valued at approximately $17,743,494. This represents a 33.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Patrick Sean Neville sold 1,000,000 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $29,300,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,682,884 shares of company stock worth $195,808,501.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CRCL. ARK Investment Management LLC purchased a new stake in shares of Circle Internet Group during the 2nd quarter worth about $530,165,000. Geode Capital Management LLC purchased a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $65,504,000. JPMorgan Chase & Co. purchased a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $65,261,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $61,650,000. Finally, Liberty Street Advisors Inc. purchased a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $52,610,000.

Circle Internet Group Company Profile

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.

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