Circle Internet Group (NYSE:CRCL) Given New $85.00 Price Target at Mizuho

Circle Internet Group (NYSE:CRCL) had its price target reduced by Mizuho from $135.00 to $85.00 in a research note published on Friday morning,Benzinga reports. Mizuho currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the company. Zacks Research raised Circle Internet Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. KeyCorp began coverage on Circle Internet Group in a report on Tuesday, May 26th. They set a “sector weight” rating for the company. William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Circle Internet Group in a report on Monday, April 20th. Finally, Compass Point reaffirmed a “sell” rating and issued a $77.00 price target (down from $79.00) on shares of Circle Internet Group in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Circle Internet Group has a consensus rating of “Hold” and a consensus target price of $134.18.

Circle Internet Group Stock Performance

Shares of NYSE CRCL opened at $80.19 on Friday. The stock has a market cap of $19.93 billion and a PE ratio of -25.06. The business has a fifty day moving average of $103.19 and a two-hundred day moving average of $89.55. 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 issued its quarterly earnings data on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). The company had revenue of $694.13 million for the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. Circle Internet Group’s revenue was up 20.0% compared to the same quarter last year. Analysts predict that Circle Internet Group will post 1.02 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director M Michele Burns sold 11,670 shares of Circle Internet Group stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $112.71, for a total value of $1,315,325.70. Following the completion of the transaction, the director directly owned 343,538 shares of the company’s stock, valued at $38,720,167.98. The trade was a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $123.08, for a total value of $1,230,800.00. Following the completion of the transaction, the insider directly owned 540,376 shares of the company’s stock, valued at $66,509,478.08. This represents a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 236,617 shares of company stock valued at $25,045,808. 10.85% of the stock is owned by corporate insiders.

Institutional Trading of Circle Internet Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC bought a new stake in Circle Internet Group during the 2nd quarter worth about $27,000. PNC Financial Services Group Inc. raised its holdings in Circle Internet Group by 14.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock worth $154,000 after purchasing an additional 151 shares during the last quarter. Larson Financial Group LLC raised its holdings 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 purchasing an additional 190 shares during the last quarter. Harbour Investments Inc. raised its holdings in Circle Internet Group by 170.0% during the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock worth $30,000 after purchasing an additional 238 shares during the last quarter. Finally, Montag A & Associates Inc. bought a new stake in Circle Internet Group during the 3rd quarter worth about $33,000.

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 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.