H.C. Wainwright analyst Kevin Dede has reiterated their bullish stance on EXOD stock, giving a Buy rating today.
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Kevin Dede has given his Buy rating due to a combination of factors that highlight Exodus Movement, Inc.’s strategic advancements and financial performance. The company’s recent quarterly sales exceeded expectations, driven by increased exchange and non-exchange aggregation revenue, alongside higher digital asset prices. Additionally, the acquisition of Grateful, a stablecoin payments platform, aligns with Exodus’ strategy to expand its financial services, offering more efficient payment solutions in regions like South America.
Exodus’ focus on self-custody, user experience, and customer service, coupled with its growing partnerships, positions it well for future growth. The company has signed 16 partnerships, with 10 already generating revenue, and is working towards integrating banking, investing, and payment services into a single app. This strategic direction, along with the anticipated growth from business-to-business partnerships and the XOSwap service, underpins the Buy rating and the $65 price target.
In another report released today, BTIG also reiterated a Buy rating on the stock with a $40.00 price target.