USDC Issuer Circle Sees Stock Slide Despite Strong Earnings Amid Analyst Cuts and Insider Selling
Circle Internet Group's stock tumbled nearly 10% despite posting robust quarterly earnings, as analyst downgrades and insider selling overshadowed the positive results. Revenue surged 66% year-over-year, yet the market reaction underscores the fragile sentiment surrounding crypto-linked equities.
Deutsche Bank slashed its price target to $90 from $147, while Robert W. Baird reduced its target to $110, both maintaining neutral ratings. The fintech firm, known for its USDC stablecoin, faces heightened scrutiny as public markets reassess crypto exposure.
Insider selling over the past 90 days further dampened investor confidence. Trading volume remained 14% below average, suggesting deliberate selling rather than panic. The stock's long-term performance continues to lag the S&P 500.