Susquehanna on Circle Internet Group (CRCL): 'Survey Shows Increasing Stablecoin Engagement'

Susquehanna analyst James Friedman reiterated a Neutral rating and $92.00 price target on Circle Internet Group (NYSE: CRCL).

THe analyst comments "Despite the announcement after the close Friday that the well regarded CFO Jeremy Fox-Green, and cofounder Sean Neville, will be stepping down from their current roles, our fundamental survey work suggests continued adoption of stablecoins. Susquehanna hosted a stablecoin survey of CFOs, Treasurers and Controllers at large companies and found a higher level of awareness and prospective future engagement than anticipated. Roughly ~8% indicated they are actively using or piloting stablecoins, and an additional ~10% indicate they are considering it for future use. Lack of internal expertise - plus regulatory uncertainty - present the biggest obstacles. We see these results as generally constructive for CRCL and the broader stablecoin ecosystem."

For an analyst ratings summary and ratings history on Circle Internet Group click here. For more ratings news on Circle Internet Group click here.

Shares of Circle Internet Group closed at $85.80 yesterday.

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