Brokerages Set Circle Internet Group, Inc. (NYSE:CRCL) Price Target at $137.12

Circle Internet Group, Inc. (NYSE:CRCL) has been assigned a consensus rating of “Hold” from the twenty-four ratings firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $137.1176.

Several brokerages have issued reports on CRCL. Compass Point reissued a “sell” rating and issued a $77.00 price target (down from $79.00) on shares of Circle Internet Group in a research note on Thursday, April 9th. Needham & Company LLC upped their target price on Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. HC Wainwright raised Circle Internet Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $150.00 in a research report on Monday, May 18th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $160.00 target price on shares of Circle Internet Group in a research report on Wednesday, March 25th. Finally, Wells Fargo & Company upped their target price on Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th.

Circle Internet Group Price Performance

Shares of CRCL stock opened at $113.07 on Thursday. The business’s 50 day simple moving average is $107.11 and its 200 day simple moving average is $89.28. Circle Internet Group has a one year low of $49.90 and a one year high of $298.99. The stock has a market capitalization of $27.91 billion and a PE ratio of -35.33.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The company had revenue of $694.13 million during the quarter. The company’s revenue was up 20.0% compared to the same quarter last year. As a group, research analysts expect that Circle Internet Group will post 1.04 earnings per share for the current year.

Insider Buying and Selling at Circle Internet Group

In related news, Director Rajeev V. Date sold 3,819 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $115.00, for a total transaction of $439,185.00. Following the completion of the sale, the director owned 152,328 shares in the company, valued at approximately $17,517,720. This represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 10,000 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $111.00, for a total value of $1,110,000.00. Following the sale, the insider owned 532,745 shares of the company’s stock, valued at $59,134,695. This trade represents a 1.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 628,664 shares of company stock valued at $61,520,221 in the last three months. Insiders own 10.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRCL. Creative Planning bought a new position in shares of Circle Internet Group during the 2nd quarter worth $295,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Circle Internet Group during the 2nd quarter worth $1,474,000. Invesco Ltd. bought a new position in shares of Circle Internet Group during the 2nd quarter worth $47,640,000. EverSource Wealth Advisors LLC purchased a new stake in Circle Internet Group during the 2nd quarter worth about $27,000. Finally, Baird Financial Group Inc. purchased a new stake in Circle Internet Group during the 2nd quarter worth about $2,649,000.

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 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.