TLDR
- Circle Internet (CRCL) releases Q3 2025 earnings November 12 with analysts forecasting $0.22 EPS on $706.70 million revenue after Q2’s $4.48 loss.
- Stock down 8.7% year-to-date following 235% post-IPO surge, as valuation concerns dampen investor enthusiasm.
- New partnerships with Deutsche Börse and Visa launched, plus reversible transaction feature being developed for institutional Arc platform.
- Analyst price targets range from $94 to $166, with TipRanks consensus at Moderate Buy averaging 69.1% upside potential.
- Circle is largest USDC stablecoin issuer facing competition from Tether while pursuing institutional banking clients.
Circle Internet Group reports third-quarter fiscal 2025 results on November 12 before market open. Analysts expect earnings of $0.22 per share on revenue of $706.70 million.
The forecast represents a sharp recovery from Q2. Last quarter, Circle posted a net loss of $4.48 per share, missing Wall Street expectations.
Despite the loss, Q2 revenue jumped 53% year-over-year to $658 million. Growth in stablecoin adoption drove the top-line increase.
Circle issued its IPO in June 2025 at $31 per share. Shares initially soared over 235% but have since retreated 8.7% year-to-date.
The company is the world’s largest issuer of USDC stablecoin. The digital currency facilitates transactions across cryptocurrency networks and traditional payment systems.
New Partnerships Expand Market Reach
Circle announced a partnership with Deutsche Börse to increase stablecoin adoption throughout Europe. The collaboration targets traditional financial institutions.
A pilot program with Visa was also launched. These partnerships could drive transaction volume growth in upcoming quarters.
The company is developing reversible stablecoin transactions for its Arc platform. This feature would allow institutional clients to reverse transactions similar to traditional banking refunds.
The move departs from cryptocurrency’s standard immutability. Banks have requested refund capabilities for institutional-level transactions.
Analyst Price Targets Show Wide Range
J.P. Morgan analyst Ken Worthington maintains a Sell rating with a $94 price target. He views the stock as overvalued at current levels, implying 4.4% downside.
Worthington believes investor optimism has already priced in near-term growth. He questions whether fundamentals support the current valuation.
Monness Crespi Hardt analyst Gustavo Gala initiated coverage with a Buy rating and $150 price target. His forecast suggests 52.6% upside potential.
Gala argues Circle’s position in the stablecoin market is undervalued compared to Tether. He expects margin expansion and increased dollar-denominated revenue.
Wells Fargo recently initiated coverage with an Overweight rating. The firm sees opportunities in growing stablecoin adoption.
TipRanks shows a Moderate Buy consensus based on eight Buy, five Hold, and three Sell ratings. The average price target of $166.19 implies 69.1% upside.
Key Metrics to Watch
Investors will focus on transaction volume and stablecoin market share data. Updates on product launches and strategic partnerships are expected.
Profitability remains a concern as Circle competes with Tether and decentralized payment platforms. The company must convert revenue growth into consistent earnings.
Clearer regulatory frameworks for stablecoins could benefit Q3 performance. Institutional interest in digital payments continues growing.
Wells Fargo and Monness Crespi Hardt initiated positive coverage recently while J.P. Morgan reiterated its Underweight stance Tuesday.
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