Analyst Lowers Price Target for Circle Ahead of Earnings Report
Bernstein analyst has reduced its price target on Circle Internet Financial (CRCL) stock from $190 to $140, a 25% cut ahead of the company's Q2 earnings report scheduled for August 5. The adjustment follows weaker-than-expected growth in USDC stablecoin supply and broader crypto market challenges. USDC’s total supply ended at around $73 billion as of June 2026, down from $77 billion a quarter earlier. Bernstein now forecasts the supply to reach approximately $170 billion by 2028—well below its prior estimate of $290 billion. Despite maintaining an Outperform rating and a long-term growth model with a 32% compound annual growth rate, near-term estimates for USDC reserve income have been reduced across 2026 to 2028 by between 13% and 18%. The firm highlighted potential drivers of future USDC expansion in payments, financial services, real-world asset tokenization, and the agentic economy. CRCL stock closed at $61.36 on July 29, down nearly 4.60%, reflecting investor concerns ahead of earnings.
Topics: analyst downgrade Circle earnings report stock price target USDC supply