Circle Internet Group, Inc. (NYSE:CRCL) Given Consensus Rating of “Hold” by Analysts

Shares of Circle Internet Group, Inc. (NYSE:CRCL) have been assigned a consensus recommendation of “Hold” from the twenty-four research firms that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $139.2941.

Several research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Circle Internet Group from $79.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, January 5th. JPMorgan Chase & Co. upgraded Circle Internet Group from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $94.00 to $100.00 in a research note on Thursday, November 13th. Mizuho lowered their target price on Circle Internet Group from $84.00 to $70.00 and set an “underperform” rating for the company in a report on Friday, November 14th. Citigroup began coverage on Circle Internet Group in a research report on Tuesday, September 30th. They set a “market perform” rating on the stock. Finally, Needham & Company LLC reduced their price objective on Circle Internet Group from $250.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, November 13th.

Circle Internet Group Trading Down 9.6%

Shares of NYSE CRCL opened at $76.62 on Friday. The stock has a fifty day moving average price of $81.91 and a 200 day moving average price of $127.10. Circle Internet Group has a 12-month low of $64.00 and a 12-month high of $298.99. The company has a market cap of $18.04 billion and a P/E ratio of -33.46.

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

Insider Activity

In related news, insider Nikhil Chandhok sold 100,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $77.08, for a total value of $7,708,000.00. Following the completion of the transaction, the insider owned 493,639 shares in the company, valued at $38,049,694.12. This represents a 16.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Rajeev V. Date sold 190,867 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $83.58, for a total transaction of $15,952,663.86. Following the transaction, the director directly owned 127,247 shares in the company, valued at approximately $10,635,304.26. The trade was a 60.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 722,089 shares of company stock worth $58,540,227 in the last quarter.

Hedge Funds Weigh In On Circle Internet Group

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC acquired a new stake in shares of Circle Internet Group in the second quarter worth $27,000. PNC Financial Services Group Inc. raised its position in Circle Internet Group by 14.9% during the third quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock valued at $154,000 after buying an additional 151 shares during the period. North Star Investment Management Corp. purchased a new stake in Circle Internet Group in the 2nd quarter worth about $34,000. Larson Financial Group LLC boosted its position in Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after acquiring an additional 190 shares during the period. Finally, Hennessy Advisors Inc. purchased a new position in Circle Internet Group during the 2nd quarter valued at about $36,000.

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 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.