Tiger Securities lowered its price target for Circle Internet Group (CRCL) to $85 from $100. The firm maintained a 'Hold' rating on the stock. This revision precedes Circle's fourth-quarter 2025 earnings report.
The research firm cited a decline in USDC's stablecoin market share during Q4 2025. USDC's share fell to 27.9% from 28.9%. Competitor USDT's market share grew during the same period.
The analyst revision reflects anticipated near-term weakness in crypto asset prices. This weakness led to a reduced forecast for average USDC circulation in 2026. Tiger Securities consequently reduced its 2026 reserve income estimate for Circle by 10%. This company-specific analysis coincides with a broader cryptocurrency market downturn pressuring crypto-related stocks.