Key Takeaways
- Circle Internet (CRCL) shares have skyrocketed 115% over the last 30 days, now trading near $132
- Fourth quarter revenue and reserve income reached $770M, representing a 77% year-over-year increase; adjusted operating profit soared 412%
- CEO Jeremy Allaire believes “the Street is starting to get us,” indicating Wall Street is beginning to grasp Circle’s position in global finance
- Bernstein maintained its Outperform rating with a $190 target, highlighting “strong evidence” of expanding worldwide stablecoin usage
- Clear Street boosted its target to $152 from $136, describing Circle as a “trusted, regulatory-compliant infrastructure layer”
Circle Internet Group (CRCL) has emerged as a 2026 market star, with shares climbing 115% during the past month to approximately $132. The current price represents more than quadruple the company’s June 2025 IPO valuation.
During a Tuesday appearance at the Economic Club of New York, CEO Jeremy Allaire expressed satisfaction that Wall Street is gaining clarity on Circle’s business model. “The Street is starting to get us,” Allaire remarked.
Allaire’s message is clear: Circle represents far more than a cryptocurrency bet. The company is building itself into essential infrastructure for a reimagined global financial ecosystem.
The fourth quarter financial results validate this optimism. Revenue and reserve income totaled $770 million, marking a 77% year-over-year jump. Adjusted operating profit exploded by 412% compared to the previous year.
Circle generates the majority of its revenue from interest earned on short-term US Treasury securities backing USDC, its stablecoin. Expanding USDC adoption directly translates to growing income.
Wall Street Raises Price Targets
On Wednesday, Bernstein analyst Gautam Chhugani maintained his Outperform rating and $190 price target for the stock. That target implies approximately 43% upside from present levels.
Chhugani pointed to “strong evidence” of accelerating global stablecoin adoption, with consumer-to-business transaction volume up 131% year over year. Visa cards linked to stablecoins now represent 24% of tagged payment volume.
He highlighted a development that long-term investors have anticipated: Circle’s stock is beginning to trade independently from cryptocurrency prices, driven increasingly by company-specific fundamentals.
Separately, Clear Street increased its CRCL price target to $152 from $136 while maintaining its Buy recommendation. The upgrade accompanied analysis of Mastercard’s $1.8 billion BVNK acquisition, which Clear Street characterized as a “defensive move by an incumbent” responding to blockchain’s expanding influence.
Clear Street described the transaction as confirmation that blockchain technology represents a “faster, cheaper, global, and 24×7 next-generation rail.” The firm said this development increased its confidence in Circle as a compliant infrastructure provider.
Arc Blockchain Platform and Strategic Alliances
Circle unveiled Arc last fall, an open Layer 1 blockchain built to facilitate increased economic activity on-chain. The platform has already secured participation from BlackRock, Visa, and Amazon Web Services.
In December, Circle announced a multiyear partnership with Intuit, TurboTax’s parent company, to deliver next-generation financial services powered by stablecoin infrastructure.
The GENIUS Act, enacted by President Trump, has provided additional momentum. This legislation creates a regulatory structure for digital tokens backed by assets including the US dollar, offering companies like Circle greater operational clarity.
Circle’s shares remain significantly below the nearly $300 all-time peak achieved in late 2025. Clear Street’s updated $152 target represents roughly 14% appreciation from current trading prices.
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