Analysts Set Circle Internet Group, Inc. (NYSE:CRCL) Target Price at $123.47

Shares of Circle Internet Group, Inc. (NYSE:CRCL) have been given a consensus rating of “Hold” by the twenty-two ratings firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $123.4706.

CRCL has been the topic of a number of analyst reports. Zacks Research downgraded shares of Circle Internet Group from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. Robert W. Baird upgraded shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Friday, November 14th. Deutsche Bank Aktiengesellschaft reduced their price target 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. Wells Fargo & Company lowered their price objective on Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Finally, Wolfe Research started coverage on Circle Internet Group in a research note on Tuesday, December 2nd. They set an “underperform” rating and a $60.00 target price for the company.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, Director M Michele Burns sold 80,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $94.88, for a total value of $7,590,400.00. Following the transaction, the director owned 305,230 shares of the company’s stock, valued at $28,960,222.40. This represents a 20.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Rajeev V. Date sold 23,254 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $89.62, for a total transaction of $2,084,023.48. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 496,816 shares of company stock worth $45,837,290.

Hedge Funds Weigh In On Circle Internet Group

Several large investors have recently made changes to their positions in CRCL. General Catalyst Group Management LLC acquired a new stake in Circle Internet Group in the 2nd quarter valued at approximately $3,647,694,000. Marshall Wace LLP boosted its position in shares of Circle Internet Group by 23.8% during the fourth quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock worth $791,313,000 after buying an additional 1,919,205 shares during the period. IDG Accel China Capital II Associates L.P. acquired a new stake in shares of Circle Internet Group in the fourth quarter valued at $554,792,000. Accel XI Associates L.L.C. acquired a new stake in shares of Circle Internet Group in the fourth quarter valued at $513,844,000. Finally, Vanguard Group Inc. grew its stake in shares of Circle Internet Group by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock valued at $448,292,000 after buying an additional 74,414 shares in the last quarter.

Circle Internet Group Stock Performance

Shares of Circle Internet Group stock opened at $111.80 on Friday. The business’s 50 day moving average price is $74.66 and its 200 day moving average price is $98.11. The company has a market cap of $26.33 billion and a price-to-earnings ratio of -60.11. Circle Internet Group has a one year low of $49.90 and a one year high of $298.99.

Circle Internet Group (NYSE:CRCL) last issued its earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.18. The company had revenue of $770.23 million during the quarter. Circle Internet Group’s quarterly revenue was up 76.9% compared to the same quarter last year.

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.