Circle Internet Group (NYSE:CRCL) Price Target Raised to $142.00 at Wells Fargo & Company

Circle Internet Group (NYSE:CRCL) had its price target increased by research analysts at Wells Fargo & Company from $111.00 to $142.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 23.95% from the company’s current price.

Several other research analysts have also weighed in on the stock. Zacks Research raised shares of Circle Internet Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Freedom Capital raised shares of Circle Internet Group to a “hold” rating in a research note on Tuesday, April 21st. Morgan Stanley set a $80.00 price objective on shares of Circle Internet Group in a report on Monday, April 20th. Mizuho increased their price objective on shares of Circle Internet Group from $100.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, March 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Circle Internet Group has an average rating of “Hold” and a consensus target price of $129.06.

Circle Internet Group Stock Down 4.2%

Shares of Circle Internet Group stock opened at $114.56 on Tuesday. The firm has a market cap of $28.28 billion and a PE ratio of -61.54. Circle Internet Group has a 52 week low of $49.90 and a 52 week high of $298.99. The business’s fifty day simple moving average is $100.04 and its 200-day simple moving average is $90.55.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data 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 business had revenue of $770.23 million for the quarter. Circle Internet Group’s quarterly revenue was up 76.9% compared to the same quarter last year. As a group, equities analysts expect that Circle Internet Group will post 0.84 earnings per share for the current year.

Insider Buying and Selling

In other Circle Internet Group news, Director Rajeev V. Date sold 23,254 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $89.62, for a total transaction of $2,084,023.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director M Michele Burns sold 80,000 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $94.88, for a total transaction of $7,590,400.00. Following the sale, 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 SEC filing for this sale provides additional information. Insiders sold a total of 554,347 shares of company stock worth $53,940,311 over the last 90 days. 10.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Circle Internet Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Circle Internet Group in the fourth quarter worth $25,000. Larson Financial Group LLC raised its stake in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Circle Internet Group in the third quarter valued at $27,000. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group during the 2nd quarter worth $27,000. Finally, Bellevue Asset Management LLC acquired a new position in Circle Internet Group during the 4th quarter worth $29,000.

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.