Exodus Movement price target lowered to $40 from $50 at BTIG

BTIG lowered the firm’s price target on Exodus Movement (EXOD) to $40 from $50 and keeps a Buy rating on the shares. Exodus Movement’s Q3 results were roughly in line with expectations, and the key announcement was the acquisition of Grateful, a Uruguay-based payments orchestrator, aimed at enhancing the company’s stablecoin-based payments capabilities, the analyst tells investors in a research note. The company remains focused on building out infrastructure and partnerships to drive long-term ecosystem growth and real-world crypto utility, BTIG says.