Circle Internet Group shares dip after Q2 revenue misses estimates

Circle Internet Group (CRCL) shares declined over 2% following the release of second-quarter financial results that showed revenue of $701 million, slightly missing the anticipated $712 million. Despite the revenue shortfall, the company’s adjusted earnings per share of $0.18 met analyst predictions, and adjusted EBITDA of $143 million exceeded TD Cowen’s internal projections by approximately 10%.

Following the report, TD Cowen analyst Bryan Bergin raised the price objective for CRCL from $82 to $87, maintaining a Buy recommendation. Analyst consensus suggests a potential upside exceeding 40%, with average price targets around $98. The company is also preparing for the launch of its Arc blockchain mainnet, scheduled for September 16.

Institutional activity remains notable, with Dimensional Fund Advisors LP acquiring a new position of 70,301 shares valued at approximately $6.71 million during the first quarter. Other significant institutional moves include new stakes from the California Public Employees Retirement System, valued at $13.31 million, and Mediolanum International Funds Ltd, valued at $1.245 million.