Circle Internet Group (NYSE:CRCL) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Circle Internet Group (NYSE:CRCL) had its price objective increased by equities researchers at Morgan Stanley from $80.00 to $106.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential downside of 4.19% from the stock’s previous close.

A number of other equities research analysts also recently commented on CRCL. Wall Street Zen downgraded shares of Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Freedom Capital upgraded Circle Internet Group to a “hold” rating in a report on Tuesday, April 21st. Wells Fargo & Company upped their target price on Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Robert W. Baird raised their price target on Circle Internet Group from $110.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Circle Internet Group in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Circle Internet Group currently has a consensus rating of “Hold” and a consensus target price of $137.12.

Circle Internet Group Trading Down 0.7%

Shares of CRCL stock traded down $0.76 during mid-day trading on Tuesday, reaching $110.63. The stock had a trading volume of 1,584,915 shares, compared to its average volume of 15,605,851. The company has a market cap of $27.31 billion and a P/E ratio of -34.50. Circle Internet Group has a 12-month low of $49.90 and a 12-month high of $298.99. The business has a 50-day simple moving average of $106.99 and a 200 day simple moving average of $89.61.

Circle Internet Group (NYSE:CRCL) last announced its earnings results 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). Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The business had revenue of $694.13 million for the quarter. The firm’s revenue was up 20.0% on a year-over-year basis. Research analysts anticipate that Circle Internet Group will post 0.86 EPS for the current year.

Insiders Place Their Bets

In other Circle Internet Group news, Director M Michele Burns sold 80,000 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $94.88, for a total transaction of $7,590,400.00. Following the transaction, the director directly owned 305,230 shares in the company, valued at $28,960,222.40. This represents a 20.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Patrick Sean Neville sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $90.00, for a total value of $2,700,000.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 618,664 shares of company stock valued at $60,410,221. Insiders own 10.85% of the company’s stock.

Institutional Trading of Circle Internet Group

Several institutional investors have recently added to or reduced their stakes in the business. General Catalyst Group Management LLC bought a new position in shares of Circle Internet Group in the 2nd quarter worth about $3,647,694,000. Marshall Wace LLP grew its stake in Circle Internet Group by 23.8% during the 4th 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 last quarter. IDG Accel China Capital II Associates L.P. bought a new stake in Circle Internet Group in the fourth quarter valued at $554,792,000. Accel XI Associates L.L.C. bought a new stake in Circle Internet Group in the fourth quarter valued at $513,844,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Circle Internet Group by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock valued at $448,292,000 after acquiring an additional 74,414 shares during the period.

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.