On August 7, Circle Internet Corp. rose 5.58% in regular trading, trading at $67.18/share, with turnover of $134 million. The rally was driven by a combination of a bullish analyst reaffirmation and institutional buying.
Research firm Bernstein reaffirmed its Outperform rating on Circle following the company's Q2 earnings release, maintaining a $140 price target — implying approximately 121% upside from the prior close of $63.28. Circle also raised its other income and margin guidance, with an expected recognition of approximately $180 million in Arc token presale revenue. Simultaneously, ARK Invest increased its position in Circle this week, further boosting market confidence.
Notably, the stock had declined nearly 6% on August 5 after Q2 revenue of $701.3 million missed analyst estimates of $713-719 million, despite EPS of $0.18 beating the $0.16 consensus. The Bernstein reaffirmation and ARK accumulation appear to have offset residual concerns from the revenue miss and Morgan Stanley's earlier downgrade to Underweight with a $38 target.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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