Circle Internet Group's (CRCL) Sell (D) Rating Reaffirmed at Weiss Ratings

Key Points

• Circle Internet Group's stock has received a "Sell (D)" rating from Weiss Ratings, indicating ongoing concerns about its performance.
• Analysts have varied opinions on the stock, with Sanford C. Bernstein issuing an "outperform" rating of $230, while others like Compass Point downgraded it to "sell," lowering their target price from $205 to $130.
• The company reported a significant earnings miss, with a loss of ($4.48) per share against an expected profit, despite achieving a year-over-year revenue increase of 53% to $658.08 million.

Circle Internet Group (NYSE:CRCL - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by equities researchers at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Other analysts have also recently issued research reports about the stock. Sanford C. Bernstein began coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They issued an "outperform" rating and a $230.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and issued a $250.00 target price on shares of Circle Internet Group in a report on Monday, September 8th. Wall Street Zen lowered shares of Circle Internet Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Compass Point lowered shares of Circle Internet Group from a "neutral" rating to a "sell" rating and dropped their target price for the company from $205.00 to $130.00 in a report on Monday, July 21st. Finally, Baird R W upgraded shares of Circle Internet Group to a "hold" rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $165.43.

Circle Internet Group Stock Performance

Shares of Circle Internet Group stock traded up $11.94 during trading on Friday, hitting $141.80. The company's stock had a trading volume of 15,608,595 shares, compared to its average volume of 10,795,310. Circle Internet Group has a 52 week low of $64.00 and a 52 week high of $298.99. The stock has a market capitalization of $32.53 billion and a PE ratio of -11,205.63. The firm's 50-day moving average is $132.16.

Circle Internet Group (NYSE:CRCL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($4.48) earnings per share for the quarter, missing the consensus estimate of $0.34 by ($4.82). The company had revenue of $658.08 million for the quarter, compared to the consensus estimate of $645.35 million. The company's revenue was up 53.0% on a year-over-year basis.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, Director Patrick Sean Neville sold 260,374 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $33,088,327.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Tamara L. Schulz sold 836 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $106,238.88. Following the completion of the sale, the chief accounting officer owned 93,609 shares of the company's stock, valued at approximately $11,895,831.72. This trade represents a 0.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 831,014 shares of company stock worth $105,416,046.

Institutional Investors Weigh In On Circle Internet Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new stake in Circle Internet Group in the 2nd quarter valued at about $27,000. North Star Investment Management Corp. purchased a new stake in Circle Internet Group in the 2nd quarter valued at about $34,000. Hennessy Advisors Inc. purchased a new stake in Circle Internet Group in the 2nd quarter valued at about $36,000. Allworth Financial LP purchased a new stake in Circle Internet Group in the 2nd quarter valued at about $37,000. Finally, Chilton Capital Management LLC purchased a new stake in Circle Internet Group in the 2nd quarter valued at about $40,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.