Circle Internet Group

CRCL · NYSE

$85.87+$4.50 (+5.53%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $81.37

CRCL analyst rating

HoldConsensus of 22 analysts over the last 12 months. 50% rate it a buy.

Strong buy0
Buy11
Hold8
Underperform3
Sell0

12-month price target · 29 analysts

Average $105.66 (+23.0% upside)

Low: $37.37
Now: $85.87
High: $255.15

Upgrades and downgrades

The latest rating actions, newest first

CRCL analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
TD Cowen	Sep 17, 2026	Maintains	Buy	$87.00 → $92.00	33%
Keefe, Bruyette & Woods	Sep 8, 2026	Initiates	Market Perform	$105.00	30%
Wolfe Research	Aug 25, 2026	Maintains	Underperform	$50.00 → $65.00	59%
Susquehanna	Aug 24, 2026	Maintains	Neutral	$69.00 → $92.00	42%
TD Cowen	Aug 12, 2026	Maintains	Buy	$82.00 → $87.00	85%
Canaccord Genuity	Aug 6, 2026	Maintains	Buy	$160.00 → $130.00	49%
Morgan Stanley	Aug 6, 2026	Maintains	Underweight	$38.00 → $37.00	57%
HC Wainwright & Co.	Aug 6, 2026	Maintains	Buy	$115.00 → $104.00	52%
Needham	Aug 6, 2026	Maintains	Buy	$150.00 → $127.00	51%
TD Cowen	Aug 3, 2026	Initiates	Buy	$82.00	52%

The case for and against

Updated Oct 14, 2026

Bull case

Circle Internet Group is viewed favorably because its core USDC franchise continues to compound, with circulation up 19% y/y despite a roughly 40% y/y decline in broader digital asset market capitalization, while management still targets a 40% multi-year USDC circulation CAGR. The investment case is also strengthened by Arc’s September 16 mainnet launch, which expands the company from a stablecoin issuer into an institutional settlement layer, supported by marquee partners such as BlackRock, DTCC, Visa, and Mastercard, plus 55+ licenses, 15+ banking partners, and 150+ distribution partners. Financially, guidance was raised to $310M-$330M of 2026 Other Revenue and 41.7%-43.7% RLDC margin, with Circle Payments Network reaching $14.7B of annualized TPV in the quarter and $23B on a trailing 30-day basis as of July 31.

Bear case

Circle Internet Group is facing a bearish fundamental setup because its core economics remain heavily exposed to reserve income, which can weaken if USDC growth disappoints or Fed rates fall faster than expected. The company also missed 2Q26 revenue at $701.3M versus $713.1M consensus, while other revenue fell 19% q/q and USDC on-platform dropped to $12.4B, signaling soft monetization and less traction in higher-margin products. Meanwhile, intense competition from banks, consortiums, and newer stablecoins, plus regulatory risk and delays to Arc and CPN, threatens market share, pricing power, and long-term adoption.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.