Circle stock rallies 15% as Wall Street sees further upside in stablecoin adoption
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- Circle shares rose 15% on Monday, moving toward the consensus price target of $138.50 per TipRanks.
- Circle reported Q1 revenue of $694 million (+20% YoY) and adjusted earnings of $151 million (+24% YoY) while USDC circulation grew 28% to $77 billion.
- Circle raised $222 million in a pre‑sale of its ARC utility token, valuing the project at $3 billion and attracting investors such as a16z Crypto, BlackRock, Apollo Global Management, and ARK Invest.
- Analysts like Peter Christiansen (Citigroup) and Gautam Chhugani (Bernstein) set 12‑month price targets of $243 and $190 respectively, and 10 other analysts rated the stock a “buy.”
- Market context: Circle’s rally unfolded as the S&P 500 stayed at record highs, Bitcoin hovered around $76 k, and the Nasdaq continued its 12‑day winning streak, even as futures slipped ahead of CPI data.
Why it matters: Circle's shareholders capture a 15% price jump while the stablecoin market gains credibility as USDC circulation hits $77 billion, reinforcing the bullish momentum that has kept the S&P 500 at record highs and the Nasdaq on a 12‑day streak.
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