Mizuho Forecasts Strong Price Appreciation for Circle Internet Group (NYSE:CRCL) Stock

Circle Internet Group (NYSE:CRCL) had its target price hoisted by equities researchers at Mizuho from $100.00 to $120.00 in a note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s price objective would indicate a potential upside of 2.21% from the company’s current price.

Several other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, February 10th. Canaccord Genuity Group cut their price target on shares of Circle Internet Group from $247.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Wells Fargo & Company decreased their price objective on shares of Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Wall Street Zen raised shares of Circle Internet Group from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, The Goldman Sachs Group lifted their target price on shares of Circle Internet Group from $79.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $124.65.

Circle Internet Group Price Performance

Shares of Circle Internet Group stock traded up $3.22 during midday trading on Friday, hitting $117.40. 5,769,987 shares of the company were exchanged, compared to its average volume of 14,656,534. The firm has a 50 day simple moving average of $76.78 and a 200-day simple moving average of $98.20. The firm has a market cap of $27.65 billion and a P/E ratio of -62.81. Circle Internet Group has a 52 week low of $49.90 and a 52 week high of $298.99.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. The company had revenue of $770.23 million during the quarter. The company’s revenue was up 76.9% compared to the same quarter last year.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, Director Patrick Sean Neville sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $90.00, for a total value of $2,700,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Fox-Geen sold 47,908 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $4,311,720.00. Following the completion of the transaction, the chief financial officer directly owned 261,059 shares of the company’s stock, valued at approximately $23,495,310. This represents a 15.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 462,567 shares of company stock worth $43,969,052 over the last quarter.

Institutional Trading of Circle Internet Group

A number of hedge funds and other institutional investors have recently modified their holdings of CRCL. EverSource Wealth Advisors LLC bought a new position in Circle Internet Group in the 2nd quarter worth approximately $27,000. Larson Financial Group LLC boosted its position in Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after buying an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Circle Internet Group in the 3rd quarter valued at $27,000. Allworth Financial LP acquired a new stake in shares of Circle Internet Group in the 2nd quarter valued at $37,000. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Circle Internet Group in the 3rd quarter valued at $32,000.

About Circle Internet Group

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 USD Coin (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.