Circle Internet Group’s shares climbed 3.3% to $90.91 in morning trading on Friday, extending gains after Susquehanna raised its price target to $92 from $69 while maintaining a Neutral rating.
The upgrade, announced ahead of the open, represented a 33% increase in Susquehanna’s valuation benchmark. The firm’s move followed Circle’s Q2 2026 financial results, which showed total revenue of $701 million, up 7% year-over-year, alongside net income of $48 million and adjusted EBITDA of $143 million.
Circle also highlighted progress in its blockchain initiatives, including the upcoming launch of the Arc Blockchain public mainnet on September 16. Earlier this month, the company completed the acquisition of a substantial portion of IBM’s global blockchain patent portfolio, encompassing more than 680 patent families and nearly 1,000 issued patents.
The broader market showed modest declines, with the S&P 500 down 0.3% and the Nasdaq down 0.6%. Bitcoin’s recent ascent above $70,000 has provided a supportive macro backdrop for stablecoin-linked equities, including Circle.
Shares of Circle reached a session high of $92.09 during the morning session.
