Circle Internet Group, Inc. (NYSE:CRCL) Stock Has Average Price Target of $91.44 According to Brokerages

Shares of Circle Internet Group, Inc. (NYSE:CRCL) have earned an average rating of “Hold” from the twenty-eight research firms that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $91.44.

CRCL has been the topic of a number of research reports. Weiss Ratings upgraded shares of Circle Internet Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, November 9th. Piper Sandler upgraded Circle Internet Group to a “neutral” rating in a research note on Thursday, November 5th. Zacks Research upgraded shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 16th. Deutsche Bank raised shares of Circle Internet Group from a “hold” rating to a “buy” rating in a research report on Thursday, November 5th. Finally, Morgan Stanley downgraded Circle Internet Group from an “underweight” rating to a “cautious” rating in a research note on Thursday, November 5th.

Circle Internet Group Trading Down 2.7%

Circle Internet Group stock traded down $1.69 during midday trading on Thursday, reaching $62.13. The company’s stock had a trading volume of 7,949,604 shares, compared to its average volume of 9,915,648. Circle Internet Group has a 52 week low of $49.90 and a 52 week high of $140.00. The business has a 50-day moving average price of $82.68 and a 200-day moving average price of $85.48. The stock has a market cap of $15.94 billion, a PE ratio of 37.43 and a beta of 0.84.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.42. Circle Internet Group had a return on equity of 13.10% and a net margin of 15.27%. The company had revenue of $864.89 million during the quarter. During the same quarter in the previous year, the company posted $0.64 earnings per share. The firm’s revenue was up 16.9% on a year-over-year basis. As a group, research analysts predict that Circle Internet Group will post 1.24 EPS for the current fiscal year.

Insider Activity at Circle Internet Group

In other news, Director Patrick Neville sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $92.09, for a total transaction of $4,604,500.00. Following the completion of the transaction, the director directly owned 2,018 shares of the company’s stock, valued at $185,837.62. This represents a 96.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 stock was sold at an average price of $79.59, for a total transaction of $2,122,506.12. Following the sale, the insider owned 715,331 shares of the company’s stock, valued at approximately $56,933,194.29. The trade was 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 424,896 shares of company stock valued at $36,323,409 in the last three months. Insiders own 10.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CRCL. Empowered Funds LLC boosted its position in Circle Internet Group by 37.5% during the third quarter. Empowered Funds LLC now owns 9,837 shares of the company’s stock worth $808,000 after purchasing an additional 2,683 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of Circle Internet Group by 6.7% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 162,592 shares of the company’s stock valued at $13,360,000 after buying an additional 10,267 shares in the last quarter. Buckland Partners Management Co LLC bought a new position in Circle Internet Group in the 3rd quarter worth approximately $288,000. Gabelli Funds LLC boosted its holdings in Circle Internet Group by 16.0% in the 3rd quarter. Gabelli Funds LLC now owns 29,000 shares of the company’s stock worth $2,383,000 after buying an additional 4,000 shares during the period. Finally, Benjamin Edwards Inc. grew its stake in Circle Internet Group by 61.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 25,679 shares of the company’s stock valued at $2,110,000 after buying an additional 9,733 shares in the last quarter.

Circle Internet Group News Roundup

These are some of the CRCL news items that stood out recently:

• Neutral Sentiment: Circle appointed Dante Disparte vice chairman for strategy and global affairs and Mandeep Walia chief compliance and risk officer and COO. The hires strengthen strategic and operational leadership, but no immediate financial effect was disclosed. Circle leadership appointments
• Negative Sentiment: A Circle insider sold about $1.76 million in shares. Insider sales can weigh on sentiment, although the report alone does not establish the seller’s reason. Circle insider share sale
• Negative Sentiment: The USDC volume report also flags declining reserve income and rising competition as risks, which could limit how much transaction growth translates into earnings. USDC growth risks

Circle Internet Group Company Profile

Circle Internet Group develops digital financial infrastructure centered on stablecoins and blockchain-based payments. Its principal products include USDC, a U.S. dollar-pegged stablecoin, and EURC, a euro-pegged stablecoin. The company also provides services and software that help businesses use digital currencies for payments and financial applications. Circle Mint is a platform for eligible institutions to mint and redeem USDC and EURC. Circle also offers developer tools and infrastructure, including its Cross-Chain Transfer Protocol, which supports the movement of USDC across compatible blockchains.