Circle Internet Group (NYSE:CRCL) Price Target Cut to $85.00 by Analysts at Mizuho

Circle Internet Group (NYSE:CRCL) had its price objective dropped by equities researchers at Mizuho from $135.00 to $85.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price target indicates a potential downside of 0.14% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. decreased their price target on Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 10th. Needham & Company LLC raised their target price on shares of Circle Internet Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Morgan Stanley raised their price target on Circle Internet Group from $80.00 to $106.00 and gave the company an “equal weight” rating in a report on Tuesday, May 19th. KeyCorp started coverage on shares of Circle Internet Group in a research note on Tuesday, May 26th. They issued a “sector weight” rating on the stock. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $160.00 price objective on shares of Circle Internet Group in a research report on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Circle Internet Group currently has an average rating of “Hold” and an average target price of $134.18.

Circle Internet Group Stock Performance

Shares of NYSE:CRCL opened at $85.12 on Friday. Circle Internet Group has a 52-week low of $49.90 and a 52-week high of $298.99. The company has a market capitalization of $21.16 billion and a P/E ratio of -26.74. The company has a 50-day simple moving average of $103.66 and a 200 day simple moving average of $89.61.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). The business had revenue of $694.13 million for the quarter. Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The business’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, equities analysts forecast that Circle Internet Group will post 1.02 earnings per share for the current year.

Insider Activity

In related news, Director Danita K. Ostling sold 1,200 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $132.06, for a total value of $158,472.00. Following the completion of the transaction, the director directly owned 22,590 shares of the company’s stock, valued at approximately $2,983,235.40. This trade represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director M Michele Burns sold 10,000 shares of Circle Internet Group stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $120.15, for a total value of $1,201,500.00. Following the completion of the transaction, the director owned 330,206 shares of the company’s stock, valued at approximately $39,674,250.90. This trade represents a 2.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 236,617 shares of company stock valued at $25,045,808 in the last three months. 10.85% of the stock is currently owned by insiders.

Institutional Trading of Circle Internet Group

Institutional investors have recently added to or reduced their stakes in the company. Creative Planning bought a new position in shares of Circle Internet Group during the second quarter valued at approximately $295,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Circle Internet Group during the 2nd quarter worth approximately $1,474,000. Invesco Ltd. bought a new stake in shares of Circle Internet Group during the 2nd quarter worth approximately $47,640,000. EverSource Wealth Advisors LLC purchased a new position in Circle Internet Group during the 2nd quarter valued at $27,000. Finally, Baird Financial Group Inc. purchased a new position in Circle Internet Group during the 2nd quarter valued at $2,649,000.

Circle Internet Group Company Profile

Circle Internet Group (NYSE: CRCL) is a financial technology company that builds infrastructure to enable businesses and developers to use and move money on public blockchains. Co-founded by Jeremy Allaire and Sean Neville, the company is best known as a principal issuer and steward of USDC, a dollar-pegged stablecoin developed through the CENTRE Consortium, which Circle co-founded with Coinbase. Jeremy Allaire serves as CEO and has been a visible leader in the company’s strategy and public engagement around digital currency and payments innovation.

Circle’s core products and services center on digital currency issuance and programmable payments.