Dan Dolev downgraded the stock to underperform and set a $50 target, citing intensifying stablecoin competition and marking the lowest target on Wall Street.
Circle shares have dropped more than 75% from their post-IPO peak, with Mizuho Securities USA LLC downgrading the stock from Neutral to Underperform and assigning a $50 price target. The call, by analyst Dan Dolev, marks the lowest target on Wall Street and points to growing competition in the stablecoin market as a further headwind for Circle’s performance.