Mizuho Upgrades Circle Internet Group (NYSE:CRCL) to “Hold”

Circle Internet Group (NYSE:CRCL) was upgraded by Mizuho from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $77.00 price objective on the stock, up from their previous price objective of $70.00. Mizuho’s price target points to a potential upside of 13.80% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Rothschild Redb raised Circle Internet Group to a “hold” rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. upgraded shares of Circle Internet Group from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $94.00 to $100.00 in a report on Thursday, November 13th. HC Wainwright assumed coverage on shares of Circle Internet Group in a report on Friday, December 19th. They set a “neutral” rating and a $85.00 price target on the stock. The Goldman Sachs Group upped their price target on shares of Circle Internet Group from $79.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, January 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Circle Internet Group from $147.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $135.59.

Circle Internet Group Stock Performance

Shares of NYSE:CRCL opened at $67.66 on Wednesday. The company has a market capitalization of $15.93 billion and a PE ratio of -29.55. The stock has a fifty day moving average of $79.56 and a 200-day moving average of $118.73. Circle Internet Group has a one year low of $64.00 and a one year high of $298.99.

Circle Internet Group (NYSE:CRCL) last issued its earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.44. The company had revenue of $739.76 million during the quarter. The business’s revenue was up 65.9% compared to the same quarter last year.

Insider Buying and Selling

In other Circle Internet Group news, CAO Tamara L. Schulz sold 4,438 shares of Circle Internet Group stock in a transaction on Monday, January 5th. The shares were sold at an average price of $85.19, for a total transaction of $378,073.22. Following the completion of the sale, the chief accounting officer owned 82,679 shares of the company’s stock, valued at $7,043,424.01. This trade represents a 5.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Heath Tarbert sold 3,048 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $90.02, for a total transaction of $274,380.96. Following the completion of the transaction, the president directly owned 579,302 shares in the company, valued at $52,148,766.04. This trade represents a 0.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 722,089 shares of company stock worth $58,540,227.

Institutional Investors Weigh In On Circle Internet Group

Several institutional investors and hedge funds have recently modified their holdings of CRCL. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Circle Internet Group during the 4th quarter worth about $25,000. Larson Financial Group LLC lifted its holdings 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 worth $26,000 after purchasing an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Circle Internet Group during the third quarter worth approximately $27,000. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group during the second quarter valued at approximately $27,000. Finally, Bellevue Asset Management LLC acquired a new position in Circle Internet Group during the fourth quarter valued at approximately $29,000.

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.