Circle Internet Group Sees 77% Q4 Revenue Growth, Bernstein Targets $190
Circle Internet Group reported fourth-quarter revenue of $770M, up 77% year-on-year, with USDC circulation rising 72% to $75.3B and reserve income of $733M. Shares jumped nearly 10% after Bernstein reiterated a $190 price target, implying 70% upside as stablecoin payments and AI-driven micropayment growth accelerate.
1. Strong Q4 Performance
In the fourth quarter, Circle reported $770M in revenue, up 77% year-on-year, with $733M from reserve income. USDC circulation climbed 72% to $75.3B, driving strong earnings momentum and a more than 30% intraday share surge.
2. 110% Five-Week Rally and Bernstein Target
Shares advanced 9.7% in one session and have rallied 110% from late-January lows, reclaiming key EMAs and breaking above a descending trendline. Bernstein reiterated a $190 price target, implying 70% upside as stablecoin demand gains traction.
3. Robust Stablecoin Ecosystem Growth
Total stablecoin transaction volume reached $55T in 2025, up 98% year-over-year, while adjusted volume excluding bots grew 91% to $11T. Payment activity totaled $375B, up 76%, with consumer-to-business payments jumping 131%.
4. Payments Network Expansion and AI Micropayments
The Circle Payments Network supports USDC transfers across the EU, Singapore, India, the Philippines, and the US, with 55 institutions and $5.7B annualized volume. Emerging machine-to-machine payments for AI agents present new micropayment revenue streams.