Michael Grondahl, an analyst from Northland Securities, assigned the Buy rating on Exodus Movement, Inc. Class A. The associated price target was lowered to $15.00.
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Michael Grondahl has given his Buy rating due to a combination of factors, including Exodus’s resilient operating metrics despite a notably weak trading backdrop in March. He highlights that monthly active users remain solid, exchange volumes are substantial even in a soft crypto market, and the company maintains a sizable crypto Treasury, which together underscore a durable core franchise and user base.
Michael Grondahl’s rating is based on Exodus’s strategic evolution toward a fully integrated payments stack and a growing B2B channel, underpinned by the pending W3C/Baanx/Monavate transaction and the recent Grateful acquisition. Although he trims his price target to $15 and modestly reduces 2026 revenue and EBITDA forecasts, he still views the shares as attractive given the multi-year growth opportunity from card issuance, stablecoin settlement, and partner-driven volumes.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $20.00 price target.