Circle's Revenue Surges Amid Fintech Infrastructure Shift

Circle's recent fourth-quarter earnings report has sparked renewed interest in the fintech company, with revenue skyrocketing by 77% to $770 million in 2025. While the majority of this growth is attributed to interest income from bond holdings, analysts at Bernstein are optimistic about Circle's future prospects.

Bernstein has reiterated its 'outperform' rating and a price target of $190 per share, suggesting a potential 129% upside for investors. This bullish call comes as stablecoins in circulation have surged by 50% in 2025, with USDC making up nearly 28% of the total.

The firm sees Circle evolving into core internet infrastructure, leveraging its stablecoin USDC and blockchain technology to drive growth. The company's Arc blockchain and payments stack are expected to play a key role in this transformation, positioning Circle as a full-stack digital dollar platform.