In a report released yesterday, Andrew Harte from BTIG maintained a Buy rating on Exodus Movement, Inc. Class A, with a price target of $50.00.
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Andrew Harte has given his Buy rating due to a combination of factors that highlight Exodus Movement, Inc.’s strategic positioning and growth potential. Despite some underperformance in the second quarter results, particularly in gross profit and adjusted EBIT, the company’s strategic partnerships and future growth prospects remain strong. The recent partnership with MetaMask is a significant development, as it is expected to drive exchange volume growth due to MetaMask’s large user base.
Additionally, Exodus Movement’s continued accumulation of Bitcoin on its balance sheet and a robust M&A pipeline indicate a proactive approach to strengthening its market position. The company’s focus on expanding its product offerings and filling strategic gaps through potential acquisitions further supports its long-term growth strategy. These elements, combined with a valuation based on a sum-of-the-parts analysis, underpin Harte’s Buy rating and the $50 price target for the stock.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $65.00 price target.
EXOD’s price has also changed moderately for the past six months – from $49.160 to $30.120, which is a -38.73% drop .