Analysts Lift Circle Targets After Q4 Beat and Rally on USDC Growth Outlook
Fresh targets reflect confidence in Circle’s shift toward growing transaction-based revenue.
Overview
- CRCL jumped about 30% after earnings, touching $90 intraday before settling near $87.
- Q4 2025 results came in at EPS of $0.43 on $770 million in revenue, a 77% year-over-year increase.
- Bernstein kept an Outperform with a $190 target, citing stronger transaction revenue, Canton super‑validator rewards, product expansion in Arc and the Circle Payments Network, and USDC held on Circle rising to 17% of supply.
- Company guidance projects roughly 40% annual growth in USDC circulation and up to $170 million in other revenue for 2026, with Street forecasts pointing to about 62% revenue growth this year.
- Mizuho raised its target to $90 but warned that potential rate cuts could pressure reserve income, while Wolfe Research remains Underperform with a $40 target.