Wall Street pro drops bold price target on Circle stock

Wall Street pro drops bold price target on Circle stock originally appeared on TheStreet.

Circle Internet Group  (CRCL) has arguably been the hottest stock this year, lighting up the market with one of the more talked-about IPOs.

As the backbone behind stablecoin USDC, Circle stock is at the core of the digital payments revolution, which continues to gain momentum.

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With billions flowing into programmable finance and institutional money piling in, Circle’s moment could just be beginning.

And now, a major Wall Street endorsement is fueling the idea that Circle’s rally is far from over.

Circle stock’s IPO delivers a crypto comeback story

Circle stock didn’t just go public; it came out swinging.

On June 4, the fintech upstart behind the popular USDC stablecoin priced its hotly anticipated IPO at $31 a share, raising north of $1.05 billion.

The massive upsized offering of 34 million shares pushed Circle’s initial valuation to $8 billion, one of the biggest crypto-focused debuts since Coinbase went public in 2021.

Heavy-hitting underwriters, including the likes of J.P. Morgan, Citi, and Goldman Sachs, helped cook up that massive demand.

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On its first day of trading under the ticker, Circle stock blasted out of the gate, closing at $83.23, an eye-popping 168% jump from its IPO price.

And the momentum didn’t stop there.

By June 23, less than three weeks later, Circle stock was trading just shy of $299, a staggering 250% jump in under a month.

Despite the inevitable pullback, the stock remained red-hot, trading around the $187 mark as of July 11. That’s still up a massive 500% from its IPO level.

From these astounding stats, it's clear that investors are buying the long-term vision.

Circle’s core business doesn’t just stop at issuing stablecoins.

The fintech player aims to power digital finance infrastructure, facilitating cash flows globally using blockchain rails, managing crypto-based treasuries, and tapping into programmable payments.

Dollars fully backs its flagship USDC token, U.S. Treasuries, and cash equivalents, which gives it immense credibility with regulators and institutions.

Also, it recently rolled out EURC, a euro-pegged stablecoin, in pushing to meet the commercial demand for trusted digital currency options.

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Moreover, its CEO, Jeremy Allaire, has been a vocal proponent of stablecoin regulation, and his stance recently got a major boost.

The Senate passed the GENIUS Act last month, a bipartisan bill that lays down clear guidelines for reserve requirements, audits, and disclosures.

Consequently, Circle stock popped over 20% on the news.

It appears investors are betting that Circle’s unique combo of explosive growth, regulatory alignment, and first-mover advantage will position it ahead of its peers.

Wall Street is betting big on Circle stock and stablecoins

Citi just joined the Circle stock bandwagon.

The firm initiated coverage of Circle stock with a Buy rating and a $243 price target. That’s roughly a 30% upside from its most recent price.

Citi analysts believe stablecoins are about to go mainstream, and Circle stock is leading the charge.

Citi analysts pointed to Circle’s impeccable positioning in the growing stablecoin space, highlighting its incredible potential to become the primary platform for programmable payments.

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Though stablecoins already improve speed, cost, and transparency, Citi sees programmability as the game-changer.

Think of payments that initiate automatically, settle instantly, and could integrate directly with smart contracts.

The bull case didn’t stop there. The firm noted legislative momentum in the U.S. with the GENIUS Act, which will likely boost early birds like Circle while boosting its value proposition in the process.

On top of that, there’s also Wall Street’s seal of approval. BlackRock now owns roughly 10% of Circle, signaling deep institutional interest in USDC and the business behind it.

The numbers back it up: The world’s stablecoin market crossed $250 billion in circulation, with monthly trading volumes rising to $700 billion.

So if Circle scales its fee revenue from transactions and grows yield income on reserves, analysts expect double-digit compound annual sales growth for the foreseeable future.

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Wall Street pro drops bold price target on Circle stock first appeared on TheStreet on Jul 13, 2025

This story was originally reported by TheStreet on Jul 13, 2025, where it first appeared.