In a report released today, Mark Palmer from Benchmark Co. reiterated a Buy rating on Exodus Movement, Inc. Class A, with a price target of $58.00.
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Mark Palmer has given his Buy rating due to a combination of factors that suggest Exodus Movement, Inc. is well-positioned to capitalize on upcoming regulatory changes and market trends. The recent passage of the CLARITY Act by the House of Representatives, which aims to establish a clear regulatory framework for digital assets, could lead to an increase in institutional investment in altcoins. This influx is expected to boost Exodus Movement’s user base and transaction volumes as retail traders respond to rising altcoin prices.
Additionally, the enactment of the GENIUS Act, which provides a regulatory framework for stablecoins, is anticipated to legitimize these digital assets and drive their adoption. This aligns with Exodus Movement’s strategic focus, as their multichain, non-custodial wallet model is particularly suited to facilitate stablecoin transactions across different blockchain networks. The company’s unique architecture, combined with the growing demand for stablecoin usage, supports Palmer’s reiterated Buy rating and the $58 price target, based on a 21x EV/EBITDA multiple for projected FY26 earnings.
In another report released on July 17, Northland Securities also initiated coverage with a Buy rating on the stock with a $50.00 price target.
Based on the recent corporate insider activity of 53 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 EXOD in relation to earlier this year.