Exodus Movement initiated with an Outperform at Northland

Northland initiated coverage of Exodus Movement (EXOD) with an Outperform rating and $50 price target Exodus operates a “user-friendly” crypto platform that directly provides users with access to self-custody of owned crypto and relevant pricing information for digital assets, notes the analyst, who points out the that platform supports over 100,000 digital assets and that the company generates most of its revenue from its API partnerships by charging them through fees collected from API providers in exchange for delivering services to the company’s user base.