Circle Internet Group (NYSE:CRCL) Stock Price Target Lowered at JPMorgan Chase & Co.

Circle Internet Group (NYSE:CRCL) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $110.00 to $100.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 44.15% from the company’s current price.

CRCL has been the subject of a number of other reports. Seaport Research Partners set a $100.00 target price on Circle Internet Group in a research report on Monday, August 17th. Wells Fargo & Company cut their price objective on shares of Circle Internet Group from $115.00 to $101.00 and set an “overweight” rating for the company in a research report on Thursday. Susquehanna reduced their price objective on shares of Circle Internet Group from $92.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday. Robert W. Baird decreased their target price on shares of Circle Internet Group from $138.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Finally, Compass Point upgraded shares of Circle Internet Group from a “neutral” rating to a “buy” rating and set a $99.00 target price for the company in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $94.88.

Circle Internet Group Stock Performance

CRCL traded down $6.75 on Thursday, hitting $69.37. 17,411,975 shares of the company were exchanged, compared to its average volume of 14,294,672. The stock’s fifty day moving average is $86.40 and its 200-day moving average is $85.71. Circle Internet Group has a 12 month low of $49.90 and a 12 month high of $140.00. The company has a market cap of $17.61 billion, a PE ratio of 47.52 and a beta of 0.84.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Wednesday, November 4th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.42. The company had revenue of $864.89 million during the quarter. Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. As a group, equities research analysts expect that Circle Internet Group will post 1.14 EPS for the current fiscal year.

Insider Activity at Circle Internet Group

In related news, CFO Jeremy Fox-Geen sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the completion of the transaction, the chief financial officer directly owned 323,837 shares in the company, valued at $29,145,330. This represents a 12.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 26,668 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $79.59, for a total transaction of $2,122,506.12. Following the completion of the sale, the insider owned 715,331 shares in the company, valued at $56,933,194.29. This represents a 3.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 372,633 shares of company stock valued at $32,833,583 in the last quarter. 10.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Circle Internet Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CRCL. Allworth Financial LP boosted its position in Circle Internet Group by 9.1% during the 2nd quarter. Allworth Financial LP now owns 1,267 shares of the company’s stock valued at $79,000 after buying an additional 106 shares during the period. GAMMA Investing LLC grew its holdings in shares of Circle Internet Group by 28.6% during the 2nd quarter. GAMMA Investing LLC now owns 715 shares of the company’s stock worth $45,000 after acquiring an additional 159 shares during the period. Raiffeisen Bank International AG raised its holdings in Circle Internet Group by 0.7% in the second quarter. Raiffeisen Bank International AG now owns 30,200 shares of the company’s stock worth $1,891,000 after purchasing an additional 200 shares in the last quarter. North Dakota State Investment Board lifted its position in Circle Internet Group by 3.9% during the 3rd quarter. North Dakota State Investment Board now owns 5,477 shares of the company’s stock valued at $450,000 after acquiring an additional 205 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in shares of Circle Internet Group by 32.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 981 shares of the company’s stock worth $61,000 after purchasing an additional 239 shares in the last quarter.

Key Stories Impacting Circle Internet Group

Here are the key news stories impacting Circle Internet Group this week:

• Positive Sentiment: Q3 adjusted earnings of $0.84 per share topped the $0.42 consensus estimate, while revenue and reserve income rose 17% year over year to $865 million. USDC circulation averaged $73.3 billion, up 8%, and on-chain transaction volume climbed 49%. Circle Q3 results
• Positive Sentiment: Compass Point upgraded CRCL to Buy with a $99 target. Other firms retained positive ratings, including TD Cowen at $87, Wells Fargo at $101, Needham at $103 and HC Wainwright at $100, despite cutting their targets. Compass Point recommendation
• Neutral Sentiment: Circle said it would reduce its workforce by about 5%. The cuts may help control costs, but also signal the company is adjusting amid pressure on its core reserve-income business. Circle workforce reduction
• Negative Sentiment: Despite the earnings beat, investors may be concerned that lower interest rates are squeezing income earned on USDC reserves and that part of the quarter’s results was supported by ARC token-related revenue. These factors raise questions about the sustainability and mix of growth. Q3 earnings call highlights
• Negative Sentiment: Several analysts cut price targets: Deutsche Bank lowered its target to $65 and maintained Hold; Susquehanna cut to $86 with Neutral; and Keefe, Bruyette & Woods reduced its target to $90 with Market Perform. The broad repricing may be weighing on sentiment, even as some firms still see upside. Deutsche Bank price-target change

About Circle Internet Group

Circle Internet Group, Inc is a global financial technology company focused on digital currencies and blockchain-based payments. The company is best known for issuing USD Coin (USDC), a dollar-backed stablecoin designed to maintain a value of one U.S. dollar and support digital transactions, payments, trading and other financial applications. Circle also issues EURC, a euro-backed stablecoin.

Circle provides infrastructure and services for businesses, financial institutions and developers through products such as Circle Mint, which supports the creation, redemption and transfer of its stablecoins, as well as APIs and developer tools for integrating digital-asset payments and blockchain functionality.