Coinbase Global, Inc.

Сильный индекс, значительно упал. Оптимистичный взгляд на свои позиции резко сменился на неуверенность.

Strong index, significantly down. An optimistic view of his position suddenly changed to uncertainty.

Сильный индекс, без изменений. Медведи в растерянности.

Strong index, flat. The bears are confused.

Сильный индекс, значительно упал. Рынок не поддерживает быков.

Strong index, significantly down. The market does not support the bulls.

Сильный индекс, без изменений. Рынок на стороне медведей.

Strong index, flat. The market is on the bears' side.

Средний индекс, незначительно вырос. Отток средств из лонгов снизился, но остается значительным.

Medium index, slightly up. The outflow of funds from longs has decreased, but remains significant.

Средний индекс, незначительно упал. Приток средств в шорты на высоком уровне.

Medium index, slightly down. Inflow of funds into shorts at a high level.

The S&P 500 Index ($SPX) (SPY) on Friday rose by +0.86%, the Dow Jones Industrial Average ($DOWI) (DIA) rose by +0.98%, and the Nasdaq 100 Index ($IUXX) (QQQ) rose by +0.91%. E-mini S&P futures (ESU26) rose +0.83%, and September E-mini Nasdaq futures (NQU26) rose +0.86%.
Stock indexes closed higher, supported by Friday’s -2.4% decline in oil prices. The stock market took Friday’s CPI report largely in stride, even as the 10-year T-note yield closed slightly higher and the odds of a Fed rate hike next week rose to 85%.
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Friday’s Aug US CPI report of +0.4% m/m was in line with market expectations, but the core CPI report of +0.3% m/m was slightly stronger than market expectations of +0.2% m/m. On a year-on-year basis, the Aug CPI report of +3.4% y/y was unchanged from July and was in line with market expectations. Meanwhile, the Aug core CPI report of +2.4% y/y eased slightly from July’s +2.5% and posted a new 5.5-year low, and was in line with market expectations.
Friday’s CPI report caused the markets to raise the odds for a +25 bp FOMC rate hike at next week’s meeting on September 15-16 to 88% from 75% on Thursday.
Stocks were undercut by Friday’s weaker-than-expected US consumer sentiment report. The University of Michigan’s preliminary Sep US consumer sentiment index fell by -3.9 points to 47.8, weaker than market expectations for a -0.6 point decline to 51.3.
Also on the negative side, the University of Michigan reported that Sep US consumer 1-year inflation expectations rose to +4.6% from +4.0% in August, stronger than expectations of +4.2%. Sep consumer 5-10 year inflation expectations rose to +3.4% from +3.3% in August, and were stronger than market expectations of +3.3%.
The US-Canada trade war continues to weigh on stock market sentiment. On Tuesday, Canada imposed tariffs of 15% to 50% on hundreds of US goods in retaliation for the US action last month to impose 50% tariffs on $20 billion of imports from Canada. The US responded by blocking imports of some Canadian products and slapping new tariffs on others, and by seeking to bar Canadian companies from selling to US government contractors.
Oct WTI crude oil prices (CLV26) fell -2.4% on Friday, reversing part of Thursday’s +6.7% surge to a 3.5-month high. Oil prices still rose by a net +9% on the week, but fell on Friday after the International Energy Agency warned that high oil prices and restricted oil supply will cause the biggest drop in global oil demand this year since the Covid-19 pandemic.
There were reports that two ships were struck by unidentified projectiles near Oman on Thursday, presumably by Iran. Also, Axios reported that Saudi Crown Prince Mohammed bin Salman called President Trump twice on Thursday, asking him to launch a new military attack against the Houthis in Yemen, who are gaining control of more territory in Yemen near the critical Bab el-Mandeb Strait and have been striking Saudi oil facilities. Saudi Arabia told OPEC on Thursday that its crude production in August fell to 6.238 million bpd, the lowest since 1990.
Overseas stock markets closed mixed on Friday. The Euro Stoxx 50 closed up +0.90%. China's Shanghai Composite closed down -1.18%. Japan's Nikkei-225 Stock Average closed down -1.91%.
Interest Rates
December 10-year T-notes (ZNZ6) fell by -7 ticks. The 10-year T-note yield rose +0.6 bp to 4.969%, following Thursday’s +11 bp surge to a 2.75-year high of 4.963%. T-note prices found support early in the session from lower oil prices but eventually succumbed to the hawkish CPI report and the higher odds of an FOMC rate hike next week. T-note prices had some underlying support as the 10-year breakeven inflation expectations rate fell -4.4 bp to 2.373%, down from Thursday’s 3.25-month high of 2.42%.
European government bond yields were mixed. The 10-year German bund yield today posted a new 24-year high of 3.532% and ended the day up +0.3 bp to 3.504%. The 10-year UK gilt yield edged to a 19-year high of 5.380% but ended the day down -3.1 bp to 5.343%.
Markets are discounting a 78% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29. The ECB at this week’s meeting raised its deposit facility rate by 25 bp to 2.50%, as expected, and said inflation will stay above 2% for an "extended period."
US Stock Movers
Oracle (ORCL) rallied +5% in Thursday’s overnight session on positive cloud news but then lost those gains and ended Friday down -1.7%. Oracle said late Thursday that its cloud infrastructure sales rose +121% to $7.4 billion, above the market consensus of $7.2 billion. Oracle’s co-CEO Clay Magouyrk said, “We are delivering data center and GPU capacity at a pace that would have seemed impossible only a year ago.” The company also said it sold more than $30 billion in AI cloud contracts during the latest quarter, higher than expectations. Fiscal-Q1 sales rose +30% and the adjusted EPS report of $1.92 per share was higher than market expectations of $1.75.
Chipmakers rose nearly across the board on Friday, and the iShares Semiconductor ETF (SOXX) rallied +1.75% on the day. ON Semiconductor (ON) rallied more than +8%. Analog Devices (ADI), NXP Semiconductors (NXPI), Arm Holdings (ARM), and Marvell (MRVL) all rallied more than +4%.
The Magnificent Seven all closed higher on Friday except for Nvidia (NVDA), which showed a small loss. Amazon.com, Alphabet (GOOGL), and Apple (AAPL) all rallied by more than +1%. Apple found continued support after releasing its new iPhone Duo earlier this week, its first foldable phone.
Microsoft (MSFT) rallied +0.65% after saying it plans a data center push to triple its computing power since a current shortage is forcing it to turn away new AI and cloud business.
Crypto stocks traded higher on Friday, supported by a +3.1% gain in Ethereum (^ETHUSD) and a +0.2% gain in Bitcoin (^BTCUSD). Mara Holdings (MARA) rallied more than +4%, Riot Platforms rallied more than +2%, and Strategy (MSTR)and Coinbase (COIN) rallied more than 1%.
Adobe (ADBE) closed up +1.4% despite slightly disappointing guidance, fueling concerns that AI will cannibalize software revenue.
Dell Technologies (DELL) rallied nearly +12% after RBC Capital Markets started research coverage with an outperform rating and $640 price target based on expectations for strong AI infrastructure demand.
Earnings Reports (9/14/2026)
Liberty Live Holdings (LLYVK).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart

Stocks Shake Off CPI Report and Rally on Lower Oil Prices

Key Points
Coinbase and Moov will bring stablecoins to over 1,000 smaller banks and credit unions.
That partnership indicates stablecoins can help smaller banks gain more customers.
It could strengthen Coinbase’s case for stablecoins in the CLARITY Act.
Coinbase (NASDAQ: COIN), one of the world's largest cryptocurrency exchanges, recently partnered with Moov, a payments infrastructure provider, to bring stablecoin payments and settlements to more than 1,000 U.S. community banks and credit unions. By integrating Coinbase's digital asset infrastructure into Moov's payments platform, the two companies will enable those financial institutions to accept stablecoins without building their own blockchains.
Let's see how this partnership could help Coinbase, why everyone is talking about stablecoins right now, and how the upcoming vote on the CLARITY Act could impact those plans.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Why is Coinbase investing in stablecoins?
Stablecoins are cryptocurrencies pegged to a stable fiat currency, such as the U.S. dollar or the euro, and can be held without a bank account. Their payments can be settled 24/7, enabling faster, cheaper money transfers than fiat currencies. They can be deposited in third-party lending platforms and liquidity pools to earn higher yields than traditional bank accounts.
Stablecoins can also allow people in countries with hyperinflation to preserve their savings without buying the underlying fiat currencies. They can also be used to accelerate cross-border transfers by acting as a "bridge currency" between the two fiat currencies.
Stablecoin issuers, such as Circle (NYSE: CRCL), earn interest on the cash and Treasury reserves they hold at banks and other financial institutions to back their tokens. Circle co-developed its stablecoin, USD Coin (CRYPTO: USDC), with Coinbase in 2018. As part of that partnership, Coinbase retains all reserve income from the USD Coins held on its platform.
Coinbase now generates nearly a quarter of its revenue from those stablecoin reserves, and that steady growth partly offsets the volatility of its other cryptocurrency trading fees. The more stablecoins are minted and held, the more reserve income will flow to Coinbase's coffers. That's why Coinbase is keen to work with Moov to introduce stablecoins to more financial institutions.
Why is everyone talking about stablecoins now?
Cryptocurrency exchanges like Coinbase are embracing stablecoins, but traditional megabanks consider them a threat to their fiat-based savings accounts. That clash has prevented the CLARITY Act, which aims to establish a clear federal framework for regulating digital assets, from passing the Senate after it was approved by the House of Representatives last July.
By partnering with Moov to reach thousands of smaller community banks and credit unions, Coinbase proves that not all financial institutions are rejecting stablecoins. Instead, these smaller players are more likely to adopt stablecoins to attract new customers.
With the Senate scheduled to hold a key procedural vote on the CLARITY Act on Sept. 15, Coinbase, Circle, and other stablecoin supporters could highlight the Moov partnership and argue that stablecoins actually promote healthier competition within the banking industry.
What's the best outcome for Coinbase?
If the Senate passes the CLARITY Act with more lenient rules for stablecoin yields, allows the Commodity Futures Trading Commission (CFTC) to oversee cryptocurrencies instead of the Securities and Exchange Commission (SEC), and sets clearer rules for all tokenized assets, more institutional investors could ramp up their purchases of cryptocurrencies.
That shift could end the current crypto winter, boost Coinbase's trading revenue, and drive its stock higher through the end of the year. It would also send a clear message to megabanks that stablecoins and other tokenized assets are here to stay -- and they could actually help smaller community banks and credit unions stay competitive in the crowded market.
But if the CLARITY Act is delayed again, the largest banks continue to oppose stablecoins, and interest rates rise, that bullish thesis would collapse. So even though Coinbase's stock has declined nearly 50% over the past 12 months, investors should see what happens on Sept. 15 before assuming a new crypto summer will start and drive its stock higher.
Should you buy stock in Coinbase Global right now?
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Coinbase Is Pushing to Bring Stablecoins to 1,000 Community Banks. Here's Why Everyone Is Talking About Stablecoins Right Now.

The S&P 500 Index ($SPX) (SPY) is up +0.89%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.81%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.95%. E-mini S&P futures (ESU26) are up +0.82%, and September E-mini Nasdaq futures (NQU26) are up +0.85%.
Stock indexes are trading higher today, supported by today’s decline of more than -2% in oil prices. The stock and bond markets took today’s CPI report largely in stride. Aug core CPI came in at +0.3% m/m, slightly above market expectations of +0.2%, while nominal CPI was +0.4% m/m, in line with expectations. T-note prices are trading slightly higher, even though the markets raised the odds of a FOMC rate hike next week to 88% from 75% on Thursday.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Today’s Aug US CPI report of +0.4% m/m was in line with market expectations, but the core CPI report of +0.3% m/m was slightly stronger than market expectations of +0.2% m/m. On a year-on-year basis, the Aug CPI report of +3.4% y/y was unchanged from July and was in line with market expectations. Meanwhile, the Aug core CPI report of +2.4% y/y eased slightly from July’s +2.5% and posted a new 5.5-year low, and was in line with market expectations.
Today’s CPI report caused the markets to raise the odds for a +25 bp FOMC rate hike at next week’s meeting on September 15-16 to 88% from 75% on Thursday.
Stocks were undercut by today’s weaker-than-expected US consumer sentiment report. The University of Michigan’s preliminary Sep US consumer sentiment index fell by -3.9 points to 47.8, weaker than market expectations for a -0.6 point decline to 51.3.
Also on the negative side, the University of Michigan reported that Sep US consumer 1-year inflation expectations rose to +4.6% from +4.0% in August, stronger than expectations of +4.2%. Sep consumer 5-10 year inflation expectations rose to +3.4% from +3.3% in August, and were stronger than market expectations of +3.3%.
The US-Canada trade war continues to weigh on stock market sentiment. On Tuesday, Canada imposed tariffs of 15% to 50% on hundreds of US goods in retaliation for the US action last month to impose 50% tariffs on $20 billion of imports from Canada. The US responded by blocking imports of some Canadian products and slapping new tariffs on others, and by seeking to bar Canadian companies from selling to US government contractors.
Oct WTI crude oil prices (CLV26) are down more than -2% today, giving back part of Thursday’s +6.7% surge to a 3.5-month high. Oil prices are still sharply higher on the week, but fell back today after the International Energy Agency today warned that high oil prices and restricted oil supply will cause the biggest drop in global oil demand this year since the Covid-19 pandemic.
There were reports that two ships were struck by unidentified projectiles near Oman on Thursday, presumably by Iran. Also, Axios reported that Saudi Crown Prince Mohammed bin Salman called President Trump twice on Thursday, asking him to launch a new military attack against the Houthis in Yemen, who are gaining control of more territory in Yemen near the critical Bab el-Mandeb Strait and have been striking Saudi oil facilities. Saudi Arabia told OPEC on Thursday that its crude production in August fell to 6.238 million bpd, the lowest since 1990.
Overseas stock markets are mixed. The Euro Stoxx 50 is up +0.66%. China's Shanghai Composite closed down -1.18%. Japan's Nikkei-225 Stock Average closed down -1.91%.
Interest Rates
December 10-year T-notes (ZNZ6) are up +1 tick. The 10-year T-note yield is down -3.1 bp to 4.932%, following Thursday’s +11 bp surge to a 2.75-year high of 4.963%. T-note prices shook off the CPI report and the higher odds of an FOMC rate hike next week and are trading higher on today’s decline in oil prices. The 10-year break-even inflation expectations rate is down -3.9 bp to 2.378%, falling back from Thursday’s 3.25-month high of 2.42%.
European government bond yields are mixed. The 10-year German bund yield today posted a new 24-year high of 3.532% and is up +1.1 bp to 3.512%. The 10-year UK gilt yield edged to a 19-year high of 5.380% but then backed off and is down -3.2 bp to 5.342%.
Markets are discounting a 78% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29. The ECB at this week’s meeting raised its deposit facility rate by 25 bp to 2.50%, as expected, and said inflation will stay above 2% for an "extended period."
US Stock Movers
Oracle (ORCL) is up +0.6% after reporting late Thursday that its cloud infrastructure sales rose +121% to $7.4 billion, above the market consensus of $7.2 billion. Oracle’s co-CEO Clay Magouyrk said, “We are delivering data center and GPU capacity at a pace that would have seemed impossible only a year ago.” The company also said it sold more than $30 billion in AI cloud contracts during the latest quarter, higher than expectations. Fiscal-Q1 sales rose +30% and the adjusted EPS report of $1.92 per share was higher than market expectations of $1.75.
The positive Oracle news boosted other cloud infrastructure stocks, with Applied Digital (APLD) up more than +2% and Coreweave (CRWV) up more than +1%.
Chipmakers are higher nearly across the board on the positive Oracle news, with TI (TXN), ON Semiconductor (ON), and Analog Devices (ADI) up more than +4%.
The Magnificent Seven are all trading higher today, led by gains of more than +2% in Apple (AAPL) and Alphabet (GOOGL). Apple is seeing continued support after releasing its new iPhone Duo earlier this week, its first foldable phone.
Microsoft (MSFT) is trading slightly higher after saying it plans a data center push to triple its computing power since a current shortage is forcing it to turn away new AI and cloud business.
Crypto stocks are trading higher due to today’s rally of about +2% in bitcoin. Mara Holdings (MARA) is up more than +7%. Strategy (MSTR)and Coinbase (COIN) are up more than +5%.
Adobe (ADBE) is little changed after providing slightly disappointing guidance, which fueled concerns that AI will cannibalize software revenue.
Dell Technologies (DELL) is up more than +10% after RBC Capital Markets started research coverage with an outperform rating and $640 price target based on expectations for strong AI infrastructure demand.
Earnings Reports (9/11/2026)
Kroger Co (KR) and Rent the Runway Inc (RENT).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Thursday, September 10, 2026
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including The Goldman Sachs Group, Inc. (GS), RTX Corp. (RTX) and Abbott Laboratories (ABT), as well as two micro-cap stocks NLI Holdings, Inc. (NL) and Precipio, Inc. (PRPO). The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.
These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Ahead of Wall Street
The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens, attempting to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning.
You can read today's AWS here >>> Pre-Markets in Red on Higher Crude Oil Prices and U.S. Bond Yields
Today's Featured Research Reports
Goldman Sachs’ shares have outperformed the Zacks Financial - Investment Bank industry over the past year (+33.7% vs. +22.5%). The company’s earnings surpassed estimates in each of the trailing four quarters. Goldman Sachs is prioritizing durable revenue streams, with improving deal activity and a strong investment banking backlog supporting fee-income growth. The recent IG Wealth Management collaboration, along with the planned LCN and NEOS acquisitions, is likely to further strengthen Asset & Wealth Management.
However, the rising expense base might hamper its near-term profitability. Elevated provisions amid a volatile macro backdrop remain a key concern. Its high dependence on overseas revenues is worrisome.
Nevertheless, the company’s private credit expansion is expected to diversify revenues and drive long-term growth. Its strong capital and liquidity position will continue to support shareholder returns.
(You can read the full research report on Goldman Sachs here >>>)
Shares of RTX have outperformed the Zacks Aerospace - Defense industry over the past year (+27.2% vs. -9.5%). The company is supported by a steady recovery in commercial aerospace, strong defense orders and robust backlog. Rising global air traffic, higher commercial OEM and aftermarket sales and strong demand for large commercial engines should aid growth.
RTX's defense business remains well-positioned, backed by strong bookings from the Pentagon and foreign allies. The company ended the second quarter of 2026 with a backlog of $289 billion. Its cash generation funds expansion, innovation and debt reduction.
However, persistent supply-chain disruptions remain a concern. Aircraft engine availability issues may affect production and deliveries. Tariff-related uncertainty and expanded Russia-linked sanctions also pose risks to RTX’s operations. The Zacks analyst have a Neutral rating on RTX shares.
(You can read the full research report on RTX here >>>)
Abbott’s shares have declined -18.9% over the past year against the Zacks Medical - Products industry’s decline of -28.9%. The company’s Rapid and Molecular Diagnostics remain exposed to respiratory testing volatility, China pricing policies still constrain Core Laboratory growth, and Exact Sciences adds integration, financing and dilution risks. With full-year sales guidance maintained and EPS guidance raised, the risk-reward profile is balanced for a Neutral view.
Nevertheless, Abbott’s diversified portfolio supports steady underlying growth, led by Medical Devices, FreeStyle Libre and Established Pharmaceuticals. Core Laboratory demand remains resilient, while Cancer Diagnostics adds an oncology platform and a faster-growing screening franchise.
Nutrition is showing sequential improvement as pricing actions, WIC wins and new products support volume recovery. A steady pipeline across electrophysiology, structural heart and diabetes should sustain product-led growth.
(You can read the full research report on Abbott here >>>)
Shares of NLI have outperformed the Zacks Electronics - Miscellaneous Components industry over the past year (+15.6% vs. -11.7%). This microcap company with a market capitalization of $330.07 million benefits from a diversified earnings base, established competitive positions and improving operating efficiency across CompX and Kronos.
Broad-based demand in Security Products, industrial growth in Marine Components and Kronos’ lower cost structure support earnings resilience and the operating outlook. Strong liquidity also provides flexibility for investment, dividends and legacy obligations.
However, NL remains materially exposed to Kronos and the cyclical TiO2 market, where pricing recovery is incomplete, and low-cost global supply could constrain sustained margin expansion. Environmental and litigation obligations remain difficult to predict, while currency volatility can offset operating improvements at Kronos and reduce the visibility of NL’s earnings recovery.
(You can read the full research report on NLI here >>>)
Precipio’s shares have outperformed the Zacks Medical Info Systems industry over the past year (+26.5% vs. -16%). This microcap company with a market capitalization of $45.83 million has an investment case which rests on rising pathology volumes, improving margins and a developing products business. Pathology growth is supporting service revenues, while the Products division is benefiting from distributor expansion, a growing pipeline and commercialization of the rapid AML assay.
The integrated pathology-product model may provide operating leverage as internally validated diagnostics are scaled externally. Liquidity and operating cash flow improved, although profitability remains uneven.
However, key risks include slower pipeline conversion, shipment timing, customer concentration, reimbursement and pricing-mix pressure, supplier obligations, cybersecurity litigation and funding sensitivity. The valuation points to restrained investor expectations, creating upside potential if revenue growth, margin improvement and operating consistency strengthen.
(You can read the full research report on Precipio here >>>)
Other noteworthy reports we are featuring today include Coherent Corp. (COHR), NetApp, Inc. (NTAP) and Coinbase Global, Inc. (COIN).
Mark Vickery
Senior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Featured Reports
AI Optics Demand Benefits Coherent (COHR) Amid Supply Constraints
Per the Zacks analyst, Coherent benefits from strong AI optics demand, solid bookings and long-term customer commitments. However, supply constraints in Indium Phosphide may limit revenue growth.
Coinbase (COIN) Banks on Improving Top Line, Expenses Hurt
Per the Zacks analyst, higher transaction revenues, subscription and services revenues, growth in crypto assets should drive Coinbase revenues. However, escalating expenses hurt its margins.
CACI International (CACI) Benefits From Rising Defense Spending
Per the Zacks analyst, favorable defense spending, strong program exposure and growing demand for mission-critical technologies are supporting CACI International's growth prospects.
Product Innovation & AIS Growth Aid Acuity (AYI), High Costs Ail
Per the Zacks analyst, Acuity benefits from product innovation, AIS expansion, strong QSC contributions and building automation demand. However, soft ABL sales and cost pressures remain concerns.
Chord Energy's Williston Scale Supports Growth and Cash Flow
Per the Zacks analyst, Chord Energy's scale and long-lateral inventory in the Williston Basin support production stability and free cash flow growth. However, rising operating costs raise concerns.
Digital Adoption & Investments Aids OUTFRONT Media (OUT)
Per the Zacks Analyst, OUTFRONT Media gains from digital adoption and the use of automated sales channels and strategic technological investments. However, cyclical ad demand and debt costs pose risks
Sarepta's (SRPT) Success with siRNA Pipeline Lifts Long-Term Sentiment
Though tighter labeling of Sarepta's Elevidys weighs on the near term, the Zacks Analyst is enthused by early data on two Arrowhead-linked drugs which offers clinical validation for siRNA candidates.
New Upgrades
NetApp (NTAP) Gains From AI-Driven All-Flash Storage Demand
Per the Zacks analyst, NetApp is gaining from AI-driven all-flash storage demand, with the first quarter fiscal 2027 revenue surging 46.6% to a record $1.31 billion on strong AI workloads.
TTM Technologies (TTMI) Gains From AI and Defense Demand
Per Zacks Analyst, TTM Technologies benefits from robust AI infrastructure and defense demand, strong backlog visibility and advanced PCB and RF expansion supporting growth.
American Eagle's (AEO) Aerie Strength & Cost Efforts Aid Growth
Per the Zacks analyst, Aerie's strong momentum, strategic investments, digital capabilities and improving expense leverage position American Eagle for sustained growth and profitability.
New Downgrades
High Input Costs Ail International Flavors' (IFF) Margins
The Zacks analyst is concerned that high costs for raw material, energy and logistics as well as currency-translation risks will likely hurt International Flavors' results in the near term.
Pool Weakness and Inventory Correction to Weigh on Pentair (PNR)
The Zacks analyst is concerned that larger-than-anticipated inventory correction along with weak end-market demand in the Pool channel will continue to hurt Pentair's results in the near-term.
Campbell's (CPB) Appears Troubled by Elevated Cost Inflation
Per the Zacks analyst, cost inflation hurt Campbell's gross margin. In Q4, adjusted gross profit margin fell 190 basis points to 28.6%, impacted by cost inflation and supply-chain costs among others.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
This article originally published on Zacks Investment Research (zacks.com).

Top Research Reports for Goldman Sachs, RTX & Abbott

Key Points
Investors are piling into crypto ETFs, especially altcoin ETFs.
Solana, Zcash, and Hyperliquid are likely benefiting from the inflows.
Even if this burst of excitement fades, all three coins are positioned well to continue growing over the long term.
The crypto bear market might finally be ending. U.S. spot crypto exchange-traded funds (ETFs) saw $2.1 billion in net inflows in the week ended Aug. 28, with about $321 million of that sum entering altcoin funds.
Capital inflows aren't a strong reason to buy a coin on their own, as they just indicate how the market reacted to recent events. But, particularly for the only three altcoins I'm interested in buying right now, the success of their corresponding ETFs is a very positive sign about their future trajectory, so let's take a look at each to see if you might be interested in buying them, too.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
1. Solana just voted 18.9 million coins out of its future supply
Spot Solana (CRYPTO: SOL) ETFs, led by the Bitwise Solana Staking ETF, experienced inflows of $153.8 million in the week ended Aug. 28, more than five times the prior week.
Those inflows arrived alongside a vote in which the network's validators approved a proposal called SGP-0002; it will now double the rate at which new Solana coin issuance declines, from 15% to 30%, thereby cutting down on supply growth.
New coins will still get minted to pay the network's validators, but for holders, the prospect of shouldering constant dilution of their value at a fast pace over the long term is now reduced a bit. The proposal calculates that it will lead to 18.9 million Solana coins (585 million coins are now in circulation) never being created during a six-year period.
When paired with the successful rollout of its on-chain governance facility, and its growing ecosystem of tokenized stocks and other projects, there are plenty of reasons that make me want to own more of this coin.
2. This privacy coin just got its own ETF
On Aug. 25, Zcash (CRYPTO: ZEC) got its first spot ETF when the asset manager Grayscale listed The Zcash ETF.
The fund was a conversion from an existing trust, so there isn't any data about how much it experienced in the way of inflows. Given that the coin's price is up by more than 45% in the five-day period ended Sept. 7, it's likely there's no shortage of capital flowing into the fund anyway.
I'm buying the coin again after having sold it earlier this year because it has regained my trust.
In short, a security researcher found a critical flaw in its code in late May. The bug could have let someone mint counterfeit coins without detection, due to its privacy features, and, due to the strength of those same features, it likely won't ever be possible to identify who might have minted any counterfeits or when. To address this issue, after initially making a quick patch, the coin's developer team pushed an upgrade in late July that ensured that no more value could exit from the network's private pools than what was originally put in.
Now, I'm more confident that its supply policy, inspired by Bitcoin, will actually be able to maintain the asset's scarcity while also offering privacy to its users, so I'm willing to buy again. Plus, the resilience of the coin's privacy functions appears to have held up even as its own developer team worked to assess the security gap, which speaks to the standard of privacy protection that's possible.
3. Hyperliquid's buybacks just got a free tailwind
Hyperliquid (CRYPTO: HYPE) is a network as well as a decentralized crypto exchange (DEX) that captures transaction fees paid by its users, and it then routes most of those fees to the holders of its coin via coin buybacks, reducing the circulating supply. And it just got another funnel that directs value into more buybacks, and for no additional work.
On Aug. 26, it activated a deal it signed earlier this year with Coinbase Global and Circle Internet Group that delivers about 90% of the cost-adjusted interest earned on the USDC stablecoins that users hold on its platform and spends it on buybacks. Bitcoin.com News estimated that the arrangement could add as much as $160 million for buybacks per year, in addition to the roughly $770 million a year already flowing in.
As a result of the deal starting to accrue interest, which will be paid out to the network in early October, spot Hyperliquid ETFs brought in $56.8 million in inflows in the week ended Aug. 28.
I already hold some Hyperliquid, but now that it has another mechanism that will add to buybacks, I have no problem with buying even more of it.
Should you buy stock in Solana right now?
Before you buy stock in Solana, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Solana wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $421,997!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,413,876!*
Now, it’s worth noting Stock Advisor’s total average return is 978% — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
Alex Carchidi has positions in Bitcoin, Hyperliquid, Solana, and Zcash. The Motley Fool has positions in and recommends Bitcoin, Hyperliquid, and Solana. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy.

Crypto ETFs Continue to Attract Investor Funds At a Rapid Rate. These Are the Only 3 Altcoins I'm Buying Now.

Key Points
Bitcoin must grow at a nearly 40% annual rate to hit a price of $300,000 by 2030.
If the "digital gold" investment thesis takes hold, Bitcoin ETFs could see a massive influx of new money.
Rising rates of institutional adoption for Bitcoin could support a growth rate in the 30% to 40% range.
If history is any guide, Bitcoin (CRYPTO: BTC) could be at the start of another amazing comeback. Time and time again, Bitcoin has rallied back from significant market declines to post a new all-time high.
In fact, some high-profile investors and analysts now think Bitcoin could hit a new high of $300,000 by 2030. Given its current price of nearly $80,000, this implies potential gains of 275% for Bitcoin.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The really good news, if you're a Bitcoin investor, is that the world's most popular cryptocurrency might have two different paths to that lofty $300,000 price level.
Path 1: Bitcoin as "digital gold"
In recent years, Bitcoin has acquired the moniker "digital gold," and there's a growing consensus on Wall Street that Bitcoin could become an important hedge against a weakening U.S. economy, just like physical gold. If this narrative takes hold, traders could move out of dollar-denominated assets and into Bitcoin, helping to push up its price.
According to investment firm Bernstein, Bitcoin could hit $300,000 by mid-2029 based on the "digital gold" investment thesis. In short, America's $40 trillion debt load and rising fiscal deficit could prove a windfall for Bitcoin and precious metals such as gold.
Bitcoin ETF inflows are booming again, so this certainly seems to be the case right now. In fact, Bitcoin ETFs recently posted their best day ($731 million in inflows) since January, proof that sentiment in the crypto market may finally be shifting. The Crypto Fear & Greed Index now stands at 78 (out of 100), the highest it's been since the pro-crypto euphoria of November 2024.
Path 2: Institutional adoption
Another path to $300,000 involves rising rates of institutional adoption for Bitcoin. Wall Street has embraced Bitcoin as a stand-alone asset class and continues to introduce new investment products, including financial derivatives.
As a result, retail investors, institutional investors, and hedge funds now have even more ways to get exposure to Bitcoin. Even the U.S. government has gotten into the act, with the launch of the Strategic Bitcoin Reserve.
According to Coinbase Global CEO Brian Armstrong, Bitcoin could hit a price of $300,000 by 2030 as long as financial institutions and institutional investors continue to embrace Bitcoin. That implies a growth rate of approximately 38% over the next four years.
That might sound unlikely, but just look at the historical record. Over the past decade (2017-2026), Bitcoin has grown at a compound annual growth rate (CAGR) of 33%. That's particularly impressive, given that this time period includes massive market declines of 73% (in 2018), 64% (in 2022), and 50% (in 2025-2026).
The math works because Bitcoin's highs have been so much higher than its lows. For example, Bitcoin fell 64% in 2022, but then more than doubled in value in both 2023 and 2024 before hitting a new all-time high of $126,000 in October 2025.
That leads me to think that Bitcoin might just be unstoppable. The historical evidence is too impressive to ignore. Even at a price of $81,000, Bitcoin might be significantly undervalued.
Should you buy stock in Bitcoin right now?
Before you buy stock in Bitcoin, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Bitcoin wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $421,997!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,413,876!*
Now, it’s worth noting Stock Advisor’s total average return is 978% — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 6, 2026.
Dominic Basulto has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

1 Unstoppable Cryptocurrency to Buy Before It Soars 270%

Increased volatility, supportive U.S. economic policies, higher acceptance of digital assets, continued efforts by exchange players to go beyond trading activity, and increased retail trading are factors that will shape the future of exchanges. In this evolving landscape, let’s find out which company is better positioned for long-term growth — Coinbase Global Inc. COIN or Nasdaq Inc. NDAQ?
Coinbase, the largest regulated cryptocurrency exchange in the United States, is well-positioned to capitalize on increased market volatility and rising digital asset valuations. On the other hand, Nasdaq is a leading provider of trading, clearing, marketplace technology, regulatory, securities listing, information and public and private company services.
The Case for COIN
Coinbase is advancing its ambition to become an “everything exchange,” offering round-the-clock access to digital assets, commodities, equities and derivatives on a single platform.
Prediction markets are emerging as an important growth avenue, widening Coinbase’s addressable market and supporting its evolution beyond traditional crypto trading. The company entered this segment in November 2025 through a partnership with Kalshi, a regulated U.S. exchange where users can trade contracts tied to real-world events, such as elections, inflation, sports and scientific developments.
Coinbase later acquired prediction-market specialist The Clearing Company, adding dedicated product and growth expertise. The deal should help accelerate product development and build regulated, scalable infrastructure while reducing reliance on third-party distribution.
International expansion is another key part of its growth strategy. Coinbase operates in Australia, Brazil, India, Japan, Singapore, the United Kingdom, Switzerland and the European Union, helping diversify revenues beyond the United States. Recently, it expanded its Webull partnership to offer crypto trading and custody in Canada and launched regulated derivatives in the country.
Coinbase is also broadening its portfolio through new cryptocurrencies and tokenized assets. The company selected Chainlink as the oracle infrastructure for its tokenized stocks, potentially extending their use beyond digital representations of listed shares. Separately, Coinbase and Better Mortgage introduced the first nationwide conforming mortgage product backed by crypto assets.
In 2026, management plans to focus on real-world asset perpetuals, specialized exchanges, advanced trading products, decentralized finance infrastructure, and AI- and robotics-related opportunities. However, Coinbase remains vulnerable to crypto-market swings. Weak digital-asset prices can put pressure on trading activity while contributing to impairment charges, restructuring expenses and higher operating costs. Strong liquidity and relatively modest leverage offer some financial flexibility, but earnings are likely to remain volatile.
The Case for NDAQ
Nasdaq operates a diversified business model that reaches far beyond its traditional stock exchange operations. Market Services benefits from trading activity, market share gains and product launches. Capital Access Platforms generates revenues from listings, indexes, data and workflow solutions, while Financial Technology provides surveillance, regulatory reporting, financial-crime prevention and capital-markets technology to institutions worldwide.
The company is steadily expanding annual recurring revenues by shifting toward subscription-based products and long-term contracts. Cross-selling complementary solutions and integrating acquisitions are helping Nasdaq strengthen customer relationships, improve retention and increase revenue visibility. Growth in non-trading businesses, including Data and Listing Services, Index, and Workflow and Insights, has also reduced its reliance on transaction volumes and brought greater stability to its revenue mix.
Targeted acquisitions have strengthened Nasdaq’s competitive position over the years. These deals have facilitated its entry into Canadian equities, expanded its technology capabilities and enhanced its market-surveillance offerings. The company is also applying artificial intelligence and other advanced technologies to modernize market infrastructure and develop new solutions for clients.
Nasdaq’s trading and technology businesses are positioned to benefit from the continued evolution of global capital markets. Calypso has supported tokenized collateral transactions on the Canton Network, while the Eqlipse platform has secured additional migration commitments from market operators. Nasdaq is also preparing for extended-hours trading and broadening its derivatives portfolio through new event-based and short-dated options. These efforts could deepen relationships with exchanges and financial institutions while generating additional technology, data and transaction revenues.
A solid balance sheet and consistent operating cash flows support Nasdaq’s shareholder-return strategy. The company aims to raise its payout ratio to 35%-38% by 2027. Its capital-allocation priorities include debt reduction, organic investment, strategic acquisitions, dividend growth and share repurchases.
Estimates for COIN and NDAQ
The Zacks Consensus Estimate for COIN’s 2026 revenues implies a 29.3% year-over-year decrease, while that for EPS implies a 109.7% year-over-year increase. EPS estimates have moved 4 cents north over the past seven days.
The Zacks Consensus Estimate for NDAQ’s 2026 revenues implies a 12.6% increase, and the EPS estimate indicates a 9.6% year-over-year increase. Earnings estimates witnessed no movement over the past seven days.
Price Performance of COIN and NDAQ
COIN shares have lost 10.1% in the past six months, while NDAQ shares have rallied 9.8% in the same time frame.
Are COIN and NDAQ Shares Expensive?
Coinbase is trading at a forward 12-month price-to-earnings multiple of 80.13, higher than its median of 33.26 over the past five years. NDAQ’s forward 12-month price-to-earnings multiple sits at 21.86, lower than its median of 22.05 over the past five years.
Conclusion
Coinbase benefits from a well-diversified revenue base that includes trading fees, staking, custodial services and derivatives, all bolstered by growing institutional demand. This crypto leader is leaving no stone unturned to be a one-stop destination for trading digital assets or providing financial services related to crypto or digital assets.
Nasdaq’s expanding mix of recurring technology, data and index revenues supports a more durable growth profile than a traditional exchange model. Nasdaq is set to benefit from impressive organic growth, an increasing on-trading revenue base and strategic buyouts.
NDAQ carries a Zacks Rank #2 (Buy), while COIN carries a Zacks Rank #4 (Sell).
NDAQ’s price appreciation, valuation and near-term growth prospects place it ahead of COIN.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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This article originally published on Zacks Investment Research (zacks.com).

Coinbase vs. Nasdaq: Which Trading Platform Stock Is the Better Buy?

Key Points
Cathie Wood’s ARK Invest is heavily invested in cryptocurrencies.
Wood expects Bitcoin’s price to soar as it locks in more institutional investors.
Cathie Wood, the founder and CEO of Ark Invest, is bullish on cryptocurrencies. ARK's flagship ETFs -- ARK Innovation (NYSEMKT: ARKK), ARK Next Generation Internet (NYSEMKT: ARKW), and ARK Fintech Innovation (NYSEMKT: ARKF) -- all hold shares of crypto stocks such as Coinbase and Robinhood. Its ARK 21Shares Bitcoin ETF (NYSEMKT: ARKB) gives investors direct exposure to Bitcoin (CRYPTO: BTC).
Wood claims Bitcoin, which currently trades at about $79,000, could soar nearly 1,480% to $1.25 million within the next five years. That rally would boost Bitcoin's market cap from $1.6 trillion to $25.1 trillion. For reference, gold -- the world's most valuable asset -- currently has a market cap of $31.3 trillion. Let's see what it would take for Bitcoin to generate those massive gains.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
What's the bull case for Bitcoin?
Bitcoin is the world's largest cryptocurrency, and it's still mined with the energy-intensive proof-of-work (PoW) consensus mechanism. Every four years, a scheduled "halving" halves its mining rewards and makes it more difficult to mine profitably.
More than 20 million of Bitcoin's maximum supply of 21 million tokens have already been mined. That scarcity, which will intensify until the last Bitcoin is mined in 2140, makes Bitcoin more comparable to gold and silver than other cryptocurrencies. That's why the Securities and Exchange Commission (SEC) classified it as a digital commodity before other cryptocurrencies. That classification paved the way toward the approval of its first spot price ETFs in early 2024.
If the U.S. continues to increase its money supply with expansionary monetary policies, the dollar will lose its purchasing power. Many investors buy gold as a hedge against the devaluation of the dollar, but Bitcoin could also serve the same purpose. Bitcoin is also easier to transfer and store than gold, and it doesn't require any physical ownership. Bitcoin could also be increasingly used as legal tender in emerging markets struggling with hyperinflation.
As that trend accelerates, more institutional investors could accumulate Bitcoin. The potential passage of the CLARITY Act -- which will establish a clear federal framework for regulating digital assets -- could also drive those big investors to buy more Bitcoin.
Wood cites all of those common bullish arguments, as well as a belief that younger investors will favor Bitcoin over gold, as her catalysts that will drive Bitcoin toward $1.25 million. If that happens, Ark's Bitcoin and crypto-driven ETFs could soar a lot higher over the next few years.
But will Bitcoin really reach $1.25 million?
However, investors should take Wood's bullish price target with a grain of salt. The first issue is that many investors still favor gold over Bitcoin as a safe-haven asset. Over the past five years, Bitcoin's price has only risen 62%, while gold's price has surged 145%. Even if investors don't want to own physical gold, they can still invest in it through spot-price ETFs and tokenized gold.
The second issue is that stablecoins, which are pinned to leading fiat currencies like the U.S. dollar and euro, could reduce the usefulness of Bitcoin and other cryptocurrencies. While stablecoins are still exposed to the devaluation of their underlying fiat currencies, they can still be easily stored and transferred without traditional bank accounts. More consumers and businesses will also prefer to use stablecoins over Bitcoins for regular transactions, since they're pegged to stable fiat currencies and don't fluctuate wildly every day.
Lastly, Bitcoin hasn't established itself as a safe-haven asset yet. Rising interest rates in 2022 and 2023 crushed Bitcoin as investors pivoted toward more conservative investments, and fears of interest rate hikes also caused it to decline nearly 30% over the past 12 months. During the same period, the price of gold rose 26%. Therefore, most investors won't simply substitute gold with Bitcoin if it's still considered a speculative investment.
While Bitcoin might have plenty of upside potential, investors shouldn't blindly assume it will soar past $1 million in just a few years. Instead, they should recognize its strengths and weaknesses and decide if it's a worthwhile long-term investment.
Should you buy stock in Bitcoin right now?
Before you buy stock in Bitcoin, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Bitcoin wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $445,833!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,402,153!*
Now, it’s worth noting Stock Advisor’s total average return is 993% — a market-crushing outperformance compared to 214% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 4, 2026.
Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

1 Popular Cryptocurrency ARK Invest Expects to Surge by 1,480%

Shares of Circle Internet Group, Inc. CRCL have gained 63.1% in the past month, putting the focus on whether operating progress can support the move. The latest quarter offered evidence of improving platform economics, but the stock still carries meaningful rate and crypto-market exposure.
Near-term momentum now rests on a mix of earnings execution, higher-margin platform activity and upcoming product launches. Those positives need to outweigh valuation concerns and the volatility embedded in Circle’s reserve-income model.
Circle Internet Group, Inc. Price, Consensus and EPS Surprise
CRCL’s Earnings Beat Adds Fundamental Support
Second-quarter 2026 total revenues and reserve income increased 7% year over year to $701 million. Earnings of 18 cents per share topped the Zacks Consensus Estimate by 12.5%, while adjusted EBITDA rose 8% to $143 million.
Revenue less distribution costs, or RLDC, increased 15% to $289 million. The RLDC margin expanded to 41.2% from 38.2% a year earlier, showing that better mix and platform economics helped offset lower reserve yields.
Circle Raises Guidance as Platform Mix Improves
Circle raised 2026 other-revenue guidance to $310-$330 million from $150-$170 million and lifted RLDC margin guidance to 41.7-43.7% from 38-40%. About $180 million of expected 2026 Arc token presale revenues are included in the revised outlook and remain milestone-based.
USDC held on Circle’s platform reached $12.4 billion at quarter-end, up 106% year over year. Coinbase Global, Inc. COIN is an important ecosystem reference point, with its second-quarter update showing average USDC held in Coinbase products reached an all-time high of $20 billion.
CRCL’s Arc and CPN Catalysts Add Optionality
Arc Mainnet is scheduled to launch Sept. 16, 2026. The network had more than 100 private mainnet partners and validators, while its testnet processed 502 million cumulative transactions across 2.8 million transacting wallets through June 30. Institutional validators and integrations are intended to extend Arc into tokenized-asset settlement and other capital-market workflows.
Circle Payments Network (CPN) annualized total payment volume reached about $23 billion as of July 31, up from $14.7 billion at second-quarter end. The network had 175 enrolled financial institutions across 58 countries. Circle expects to begin monetizing CPN in the second half of 2026.
Circle Still Faces Rate and Crypto Sensitivity
Reserve income represented 95.2% of second-quarter revenues, leaving results sensitive to short-term interest rates. The reserve return rate fell to 3.48% from 4.14% a year earlier, meaning circulation growth must continue to offset pressure from lower yields.
Crypto-linked activity also remains uneven. Quarter-end USDC circulation declined to $73.3 billion from $77 billion sequentially, while onchain transaction volume fell to $14.8 trillion from $21.5 trillion. PayPal Holdings, Inc. PYPL, which offers the PYUSD stablecoin, also illustrates the expanding competitive field for digital-dollar payment use cases.
CRCL’s Momentum Signals Stay Strong but Mixed
The 63.1% monthly rally is supported by favorable trading momentum and improving platform metrics, but the operating picture is not uniformly bullish. Rate exposure, softer sequential crypto activity and execution around Arc and CPN remain important checks on further gains.
CRCL currently carries a Zacks Rank #3 (Hold). Its Momentum Score of A and Growth Score of B point to favorable momentum and growth characteristics, while the Value Score of F and VGM Score of C make the profile more mixed. The combination supports a measured view after the recent surge rather than a clear-cut directional call. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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This article originally published on Zacks Investment Research (zacks.com).

CRCL Rallies 63.1% in a Month: Can Momentum Keep Building?

Circle Internet Group, Inc. CRCL offers exposure to stablecoin adoption, payments and blockchain infrastructure, but the growth case carries a demanding valuation. The question is whether expanding utility and improving economics can justify that premium.
New products and better margins support the bull case. Rate sensitivity, reserve-income reliance and rising investment spending keep the risk-reward balance from becoming one-sided.
Circle’s Growth Case Extends Beyond Reserve Income
Management continues to target roughly 40% compound annual growth in USDC circulation over several years through the cycle. Circle is also building revenue sources around Arc and Circle Payments Network (CPN), broadening the business beyond reserve income.
CPN had 175 enrolled financial institutions across 58 countries, while annualized total payment volume reached about $23 billion as of July 31. Coinbase Global, Inc. COIN reported record average USDC holdings of $20 billion in its products in the second quarter. Visa Inc. V said its stablecoin settlement pilot reached a $7 billion annualized run rate and supported nine blockchains as of April, showing that a large payments company is expanding stablecoin settlement capabilities.
CRCL’s Margin Trends Strengthen the Bull Case
Revenue less distribution costs (RLDC) margin improved to 41.2% in the second quarter from 38.2% a year earlier. Net reserve margin also rose to 38.5% from 35.9%, even as short-term rates moved lower.
Circle raised its full-year RLDC margin outlook to 41.7-43.7% from 38-40%. USDC held on Circle’s platform more than doubled year over year to $12.4 billion, supporting better economics under its distribution arrangements.
CRCL’s Valuation Leaves Less Room for Error
CRCL trades at 7.41 times forward 12-month sales compared with 2.58 times for its Zacks sub-industry and 4.8 times for the S&P 500. The premium leaves less room for slower growth or execution setbacks.
Continued USDC circulation growth, Arc adoption and CPN monetization need to translate into durable revenues and margins. A slower ramp in those areas could make the valuation harder to defend.
Circle’s Rate Exposure Keeps Earnings Fragile
Reserve income represented 95.2% of second-quarter revenues. The reserve return rate fell to 3.48% from 4.14% a year earlier, showing how lower short-term rates can pressure a business still dominated by income earned on reserve assets.
Average USDC circulation increased 25.2% year over year and helped offset the lower yield. Further rate declines would increase the burden on circulation growth and non-reserve products to sustain earnings expansion.
CRCL’s Spending Could Delay Operating Leverage
Adjusted operating expenses increased 23% year over year to $146 million in the second quarter. Spending reflected product development, go-to-market infrastructure, Arc marketing, general and administrative needs, infrastructure and artificial intelligence capabilities.
Full-year adjusted operating expense guidance remains $570-$585 million, with management expecting results near the high end. If Arc activity and CPN monetization build gradually, the investment pace could limit near-term operating leverage.
CRCL’s Growth Scores Beat Its Value Profile
CRCL presents a credible growth case, but its premium valuation, rate exposure and spending needs argue against treating growth alone as a buy signal. The setup remains balanced because platform expansion must translate into enough earnings power to support the multiple.
The stock currently carries a Zacks Rank #3 (Hold). Its Growth Score of B and Momentum Score of A indicate favorable growth and momentum characteristics, while the Value Score of F and VGM Score of C show a weaker valuation profile and a mixed combined style picture. The Rank supports a measured stance rather than a clear short-term buy call. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
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