Circle Internet Group, Inc. (NYSE:CRCL) Stock Has Average Target Price of $91.44

Key Points

• Analysts rate Circle “Hold” overall, with a $91.44 average 12-month price target among 28 brokerages; 14 recommend buying, seven holding, and seven selling or strong buying? Wait: five rate sell, seven hold, fourteen buy, and two strong buy.
• Circle reported quarterly EPS of $0.84, beating the $0.42 consensus estimate, while revenue rose 16.9% year over year to $864.89 million.
• Several analysts recently lowered their targets, including Wells Fargo ($115 to $101) and Keefe, Bruyette & Woods ($105 to $90), though both maintained their respective ratings.

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) have earned a consensus rating of "Hold" from the twenty-eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $91.44.

Several research firms have recently weighed in on CRCL. Seaport Research Partners set a $100.00 price target on Circle Internet Group in a report on Monday, August 17th. Morgan Stanley lowered Circle Internet Group from an "underweight" rating to a "cautious" rating in a report on Thursday, November 5th. Wells Fargo & Company cut their price objective on Circle Internet Group from $115.00 to $101.00 and set an "overweight" rating for the company in a report on Thursday, November 5th. Keefe, Bruyette & Woods reduced their price objective on Circle Internet Group from $105.00 to $90.00 and set a "market perform" rating for the company in a research report on Thursday, November 5th. Finally, Canaccord Genuity Group lowered their target price on Circle Internet Group from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, August 6th.

Circle Internet Group Stock Up 3.4%

CRCL opened at $67.20 on Thursday. The stock has a market capitalization of $17.06 billion, a price-to-earnings ratio of 40.48 and a beta of 0.84. The firm has a 50 day moving average price of $83.99 and a 200-day moving average price of $85.56. Circle Internet Group has a twelve month low of $49.90 and a twelve month high of $140.00.

Circle Internet Group (NYSE:CRCL - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.42. Circle Internet Group had a net margin of 15.27% and a return on equity of 13.10%. The company had revenue of $864.89 million for the quarter. During the same quarter in the prior year, the business posted $0.64 EPS. The company's revenue for the quarter was up 16.9% compared to the same quarter last year. As a group, analysts expect that Circle Internet Group will post 1.20 earnings per share for the current year.

Insider Buying and Selling at Circle Internet Group

In other news, CFO Jeremy Fox-Geen sold 4,238 shares of the company's stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $73.06, for a total transaction of $309,628.28. Following the completion of the sale, the chief financial officer owned 294,815 shares of the company's stock, valued at $21,539,183.90. This represents a 1.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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, CAO Tamara Schulz sold 1,194 shares of the company's stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $73.06, for a total transaction of $87,233.64. Following the sale, the chief accounting officer directly owned 92,024 shares of the company's stock, valued at $6,723,273.44. The trade was a 1.28% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 423,396 shares of company stock worth $36,226,299. 10.85% of the stock is owned by corporate insiders.

Institutional Trading of Circle Internet Group

Several large investors have recently added to or reduced their stakes in CRCL. Advisors Asset Management Inc. purchased a new position in shares of Circle Internet Group during the 3rd quarter worth $1,089,000. Private Advisor Group LLC increased its stake in shares of Circle Internet Group by 29.9% in the 3rd quarter. Private Advisor Group LLC now owns 15,925 shares of the company's stock worth $1,309,000 after purchasing an additional 3,661 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Circle Internet Group in the 3rd quarter worth $667,000. Global Retirement Partners LLC increased its stake in shares of Circle Internet Group by 11.4% in the 3rd quarter. Global Retirement Partners LLC now owns 2,401 shares of the company's stock worth $197,000 after purchasing an additional 245 shares in the last quarter. Finally, Cibc World Market Inc. raised its holdings in Circle Internet Group by 12.8% in the 3rd quarter. Cibc World Market Inc. now owns 7,358 shares of the company's stock worth $605,000 after purchasing an additional 837 shares during the period.

Circle Internet Group Company Profile

Circle Internet Group develops digital financial infrastructure centered on stablecoins and blockchain-based payments. Its principal products include USDC, a U.S. dollar-pegged stablecoin, and EURC, a euro-pegged stablecoin. The company also provides services and software that help businesses use digital currencies for payments and financial applications. Circle Mint is a platform for eligible institutions to mint and redeem USDC and EURC. Circle also offers developer tools and infrastructure, including its Cross-Chain Transfer Protocol, which supports the movement of USDC across compatible blockchains.

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