These Analysts Slash Their Forecasts On Circle Internet Group After Q3 Results

Circle Internet Group Inc. (NYSE:CRCL) on Wednesday reported upbeat third-quarter results and disclosed a workforce reduction of about 5%.

Circle reported third-quarter earnings per share of 84 cents, beating the consensus estimate of 37 cents, and up from 64 cents a year earlier. It reported total revenue and reserve income of $864.888 million, up 17% from a year earlier, beating the consensus estimate of $778.121 million.

“In Q3, we saw continued proof that institutions are building and expanding on USDC. Tereina is bringing USDC and EURC into the SAP ecosystem, Visa took stablecoin prefunding into commercial deployment, and Binance renewed and expanded our partnership,” said Jeremy Allaire, Co-Founder, CEO, and Chairman at Circle. “We also launched Arc on public mainnet with more than 100 institutional and ecosystem builders, giving them the infrastructure to build the next generation of financial applications. Together, we’re building the financial and economic infrastructure for the internet, and upgrading the system for a world where people, businesses, and AI agents all transact onchain.”

Circle shares fell 1.6% to $74.88 in pre-market trading

These analysts made changes to their price targets on Circle following earnings announcement.

• HC Wainwright & Co. analyst Mike Colonnese maintained the stock with a Buy and lowered the price target from $104 to $100.
• Needham analyst John Todaro maintained the stock with a Buy and cut the price target from $134 to $103.

Considering buying CRCL stock? Here’s what analysts think:

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