The Goldman Sachs Group Issues Pessimistic Forecast for Gemini Space Station (NASDAQ:GEMI) Stock Price

Key Points

• The Goldman Sachs Group cut its price target on Gemini Space Station from $25 to $22 and kept a "neutral" rating, a level that implies roughly a 59.5% upside from the stock's current ~$13.79 price.
• Analyst coverage is mixed—six "Buy" and six "Hold" ratings—leaving a consensus "Moderate Buy" with an average target of $30.45 and individual targets ranging as high as $41.
• Gemini posted a notable quarterly EPS miss (loss of $1.81 vs. -$0.82 expected) while beating revenue estimates ($50.62M vs. $45.87M), and its shares traded near a 1‑year low around $13.79.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) had its target price dropped by stock analysts at The Goldman Sachs Group from $25.00 to $22.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's target price suggests a potential upside of 59.54% from the stock's current price.

Several other equities research analysts have also issued reports on GEMI. Truist Financial reduced their price target on Gemini Space Station from $31.00 to $28.00 and set a "buy" rating for the company in a report on Friday, October 24th. Citigroup initiated coverage on shares of Gemini Space Station in a research note on Tuesday, October 7th. They issued a "neutral" rating and a $26.00 target price on the stock. Evercore ISI assumed coverage on shares of Gemini Space Station in a research report on Tuesday, October 7th. They set an "outperform" rating and a $30.00 target price for the company. Barclays initiated coverage on shares of Gemini Space Station in a report on Tuesday, October 7th. They set an "equal weight" rating and a $41.00 price target for the company. Finally, Rosenblatt Securities initiated coverage on Gemini Space Station in a research note on Tuesday, October 7th. They issued a "buy" rating and a $30.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.45.

Gemini Space Station Stock Down 2.0%

Shares of Gemini Space Station stock traded down $0.28 during midday trading on Wednesday, hitting $13.79. The company's stock had a trading volume of 1,543,478 shares, compared to its average volume of 3,272,471. Gemini Space Station has a 1-year low of $13.78 and a 1-year high of $45.89.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.99). The company had revenue of $50.62 million for the quarter, compared to analyst estimates of $45.87 million.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GEMI. Vanguard Group Inc. bought a new stake in shares of Gemini Space Station during the 3rd quarter worth approximately $25,656,000. TD Asset Management Inc bought a new stake in Gemini Space Station during the third quarter worth $415,000. Ninepoint Partners LP acquired a new stake in Gemini Space Station in the third quarter valued at $719,000. BIT Capital GmbH acquired a new position in shares of Gemini Space Station during the 3rd quarter worth about $1,441,000. Finally, Ground Swell Capital LLC bought a new stake in shares of Gemini Space Station in the 3rd quarter valued at about $229,000.

Gemini Space Station Company Profile

Our mission is to unlock the next era of financial, creative, and personal freedom. Gemini envisions a future where crypto will redesign the global financial system, the internet, and money in a way that provides greater choice, independence, and opportunity for all. As a trusted bridge between the traditional financial system and the emerging cryptoeconomy, we are providing access for individuals and institutions to a decentralized future that is more open, fair, and secure.

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