Exodus Movement, Inc. (NYSEAMERICAN:EXOD) Stock Has Consensus Target Price of $15.25 According to Analysts

Key Points

• Analysts maintain a bullish view: Seven brokerages give Exodus Movement an average “Buy” rating, with a consensus 12-month price target of $15.25 versus the reported share price of $6.21.
• Recent target revisions were mixed: Cantor Fitzgerald raised its target to $15, while BTIG Research and Benchmark lowered theirs to $12; Northland Securities set an $8.50 target.
• Financial performance remains weak: Exodus reported a quarterly loss of $0.62 per share, $26.23 million in revenue, a negative 79.87% net margin, and analysts expect a full-year loss of $1.54 per share.

Exodus Movement, Inc. (NYSEAMERICAN:EXOD - Get Free Report) has been given an average recommendation of "Buy" by the seven brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $15.25.

A number of analysts recently issued reports on the company. Cantor Fitzgerald raised their price target on Exodus Movement from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. BTIG Research cut their price objective on shares of Exodus Movement from $16.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, September 15th. Northland Securities set a $8.50 target price on shares of Exodus Movement in a report on Wednesday, August 12th. Benchmark dropped their price target on shares of Exodus Movement from $21.00 to $12.00 and set a "buy" rating for the company in a research note on Monday, July 20th. Finally, Zacks Research upgraded shares of Exodus Movement from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th.

Exodus Movement Price Performance

Shares of EXOD stock opened at $6.21 on Friday. Exodus Movement has a 1 year low of $4.57 and a 1 year high of $32.21. The stock's 50 day simple moving average is $6.91 and its two-hundred day simple moving average is $6.61. The company has a market cap of $187.54 million, a PE ratio of -2.06 and a beta of 2.05.

Exodus Movement (NYSEAMERICAN:EXOD - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.62) EPS for the quarter. The company had revenue of $26.23 million during the quarter. Exodus Movement had a negative return on equity of 36.07% and a negative net margin of 79.87%. Equities research analysts expect that Exodus Movement will post -1.54 EPS for the current year.

Insider Activity at Exodus Movement

In other news, CFO James Gernetzke sold 5,682 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $7.35, for a total value of $41,762.70. Following the sale, the chief financial officer directly owned 463,988 shares in the company, valued at approximately $3,410,311.80. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 20,171 shares of company stock worth $151,258 over the last quarter. Corporate insiders own 67.67% of the company's stock.

Hedge Funds Weigh In On Exodus Movement

Several hedge funds have recently bought and sold shares of the business. FTX Recovery Trust purchased a new stake in Exodus Movement in the fourth quarter worth $26,969,000. Bank of America Corp DE boosted its stake in shares of Exodus Movement by 17,155.2% during the first quarter. Bank of America Corp DE now owns 33,475 shares of the company's stock valued at $218,000 after purchasing an additional 33,281 shares during the period. Aristides Capital LLC purchased a new stake in shares of Exodus Movement during the fourth quarter valued at $164,000. Bank of New York Mellon Corp grew its holdings in shares of Exodus Movement by 20.2% in the first quarter. Bank of New York Mellon Corp now owns 24,526 shares of the company's stock worth $159,000 after purchasing an additional 4,124 shares during the last quarter. Finally, Impact Partnership Wealth LLC bought a new position in shares of Exodus Movement in the first quarter worth about $66,000.

About Exodus Movement

Exodus Movement, Inc develops and operates non-custodial cryptocurrency wallet software. Its products enable users to store, manage, send and receive digital assets while retaining control of their private keys. The company's wallet is available through desktop and mobile applications and supports a broad range of cryptocurrencies and blockchain networks.

In addition to wallet functionality, Exodus provides services that can include in-wallet cryptocurrency swaps, staking and access to decentralized applications and other Web3 features.

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