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Investing.com - Circle Internet Group (NYSE:CRCL), the issuer of USDC stablecoin, received a Hold rating initiation from Clear Street on Tuesday, with a price target of $135.00. The company, currently valued at $30.27 billion, is scheduled to report its next earnings on November 12.
Clear Street analyst Owen Lau based the price target on 36x EV/2027 EBITDA for the company, which issues USDC, the second-largest stablecoin with a 25% market share. According to InvestingPro analysis, CRCL is currently trading above its Fair Value, with notably high revenue and Price/Book multiples.
The research firm highlighted USDC’s role in providing faster and cheaper transactions through the internet and global access to USD, noting that stablecoin represents "a proven use case, and the first step to move into a tokenized world."
Clear Street pointed to Circle’s network effect and neutral position as key differentiators from other stablecoin issuers in the market.
CRCL shares have surged more than 300% since the company’s initial public offering in June 2025, reaching a current valuation of 49x 2026 EV/EBITDA, which Clear Street considers fully valued until a more attractive entry point emerges or growth exceeds their forecasted 36%. The company currently operates with thin gross margins of 4.12% and has not achieved profitability in the last twelve months. For deeper insights into CRCL’s valuation metrics and growth potential, InvestingPro subscribers can access the comprehensive Pro Research Report, featuring detailed financial analysis and expert insights.
In other recent news, Circle Internet Group announced a strategic partnership with Safe to enhance USDC self-custody solutions. This collaboration aims to establish Safe as a leading institutional storage solution for USDC, with $2.5 billion already held in Safe smart accounts. Circle’s stock rating was reiterated at Outperform by Bernstein SocGen, with a price target set at $230. Despite this positive outlook, Circle’s stock has faced challenges due to concerns about competition and potential interest rate cuts.
Additionally, Rothschild Redburn initiated coverage on Circle with a Neutral rating and a $136 price target, highlighting Circle’s position as the second-largest stablecoin issuer globally. Citizens JMP also began coverage with a Market Perform rating, noting Circle’s potential in stablecoins and tokenized finance but suggesting the current share price reflects its base case scenario. Meanwhile, Bitcoin-linked stocks, including Circle, experienced declines amid rising US-China trade tensions. These developments provide a snapshot of Circle’s current position and the various analyst perspectives on its future.
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