John Todaro, an analyst from Needham, has initiated a new Buy rating on Gemini Space Station, Inc. Class A (GEMI).
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John Todaro has given his Buy rating due to a combination of factors that highlight Gemini Space Station, Inc.’s promising growth potential. One of the key drivers is the company’s ability to capitalize on easily attainable opportunities in staking and the introduction of new asset listings. Additionally, the expansion of their card offerings has resulted in a significant increase in average revenue per user, tripling it among their customer base.
Furthermore, John Todaro notes that Gemini is poised for growth as it recovers from the ‘Earn Crisis’ and explores new markets such as tokenized real-world assets and prediction markets. These areas are seen as attractive opportunities for future expansion. Despite a dip in stock prices following a strong IPO, this is viewed as a strategic buying opportunity, supported by a price target of $42 based on a 12x multiple of the discounted 2027 EV/Sales estimate.
In another report released today, Mizuho Securities also initiated coverage with a Buy rating on the stock with a $30.00 price target.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GEMI in relation to earlier this year.