Circle Internet Group, Inc. (NYSE:CRCL) Receives $132.35 Average PT from Brokerages

Shares of Circle Internet Group, Inc. (NYSE:CRCL) have earned an average recommendation of “Hold” from the twenty-two ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $131.7647.

A number of equities research analysts have weighed in on the company. Wolfe Research assumed coverage on Circle Internet Group in a research report on Tuesday, December 2nd. They set an “underperform” rating and a $60.00 target price for the company. Morgan Stanley assumed coverage on Circle Internet Group in a report on Monday, February 2nd. They issued an “equal weight” rating and a $66.00 price objective for the company. Monness Crespi & Hardt started coverage on shares of Circle Internet Group in a report on Monday, November 10th. They set a “buy” rating and a $150.00 target price on the stock. Mizuho set a $77.00 target price on shares of Circle Internet Group and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Finally, Needham & Company LLC reduced their price target on shares of Circle Internet Group from $250.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, November 13th.

Insider Buying and Selling

In other Circle Internet Group news, CEO Jeremy Allaire sold 7,055 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $90.05, for a total transaction of $635,302.75. Following the completion of the sale, the chief executive officer owned 77,572 shares in the company, valued at $6,985,358.60. This represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rajeev V. Date sold 127,247 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $72.29, for a total value of $9,198,685.63. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 396,418 shares of company stock valued at $31,040,956 over the last ninety days.

Hedge Funds Weigh In On Circle Internet Group

A number of large investors have recently added to or reduced their stakes in CRCL. Truist Financial Corp purchased a new stake in shares of Circle Internet Group during the second quarter valued at about $218,000. Vontobel Holding Ltd. acquired a new stake in Circle Internet Group in the second quarter valued at approximately $289,000. Concurrent Investment Advisors LLC purchased a new position in Circle Internet Group in the second quarter worth $238,000. CWM LLC acquired a new position in shares of Circle Internet Group during the second quarter worth $115,000. Finally, Endowment Wealth Management Inc. acquired a new stake in shares of Circle Internet Group in the 2nd quarter worth $18,129,000.

Circle Internet Group Stock Performance

Shares of NYSE:CRCL opened at $56.75 on Tuesday. The firm’s 50 day simple moving average is $75.71 and its 200-day simple moving average is $108.19. Circle Internet Group has a one year low of $49.90 and a one year high of $298.99. The firm has a market cap of $13.36 billion and a PE ratio of -24.78.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.44. The firm had revenue of $739.76 million during the quarter. The firm’s revenue for the quarter was up 65.9% on a year-over-year basis.

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 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.