Gemini’s Price Target Cut Amidst Slow Trading Volume Growth
- Citigroup lowered GEMI‘s price target from $26 to $23.
- GEMI shares increased by 5.5% to $20.60 on Friday.
- Trading volumes in October are only slightly above September levels, disappointing compared to July and August.
- The new price target indicates a potential discount of about 45% relative to Coinbase’s expected enterprise value-to-sales ratio for 2027.
- Bullish’s price target was raised from $70 to $77, suggesting nearly a 40% upside from its current price of $55.62.
Despite an impressive marketing push, including the Gemini Card, the exchange’s user engagement is lagging, as indicated by trading volume trends. Meanwhile, Bullish is gaining momentum with its New York BitLicense approval and institutional access expansion.
With GEMI’s price target cut reflecting ongoing challenges in user engagement and trading volume growth, the new target stands at $23 after a reduction from $26.(Source)
