Bernstein Keeps Positive Outlook on Circle
Circle Internet Group received continued support from Bernstein analysts after reporting strong first-quarter performance. The brokerage firm maintained its Outperform rating and kept its $190 price target on Circle shares.
The target suggests nearly 44% upside from the company’s closing stock price of $131.76 on Monday.
ARC Token Presale Supports Revenue Growth
The crypto wallet provider posted a net loss of $32.1 million in Q1 2026. In the same quarter last year, the company recorded a loss of $12.9 million. Exchange processed volume also declined to $1.18 billion, down 26% from the previous quarter.
Circle Beats EBITDA Expectations
Circle reported adjusted EBITDA of $151 million in the first quarter. The figure came in nearly 10% above market expectations despite softer revenue results.
The company posted Q1 revenue of $694 million, missing analyst estimates by around 4%. Bernstein noted that stable operating costs and strong profitability helped maintain investor confidence.
USDC Supply Continues to Expand
Circle’s USDC stablecoin supply reached $77 billion during the first quarter. This represented a 28% increase year-over-year and a 2% rise from the previous quarter.
The analysts also noted that Circle’s on-platform USDC balances climbed to $13.7 billion, accounting for 18% of the total USDC supply.
