Gemini price target lowered to $19 from $22 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Gemini (GEMI) to $19 from $22 and keeps a Neutral rating on the shares. Brokers and crypto stocks have dropped about 15% since mid-October despite higher forward estimates, as valuation multiples compressed sharply amid volatile equity and crypto markets, the analyst tells investors in a research note. While near-term pressure is likely to persist until markets stabilize, the group’s long-term outlook remains supported by strong product innovation, large addressable markets, regulatory momentum, and continued inorganic growth, Goldman says.