Investment Bank KBW initiated coverage of Gemini Space Station (GEMI) with a market development rating and a price target of $ 27 and described Crypto Exchange as a well -rounded digital asset platform ready for long -term growth.
Nevertheless, analyst Bill Papanastasiou wrote, Gemini For now remains unpaid and reduced valuation to competitor Coinbase is justified “as the effect of
Execution and market risk are increased. “
KBW said Gemini’s ecosystem, which spans trade, custody, credit card, stacking, stableecoin and tokenized shares, offer cross -selling potential as the crypto market expands.
The bank highlighted Gemini’s credit card business as an important growth driver and noted that it has more than 100,000 users and strong conversion to exchange activity thanks to crypto -based rewards.
Gemini was announced last month to $ 28 per year. Share, and valued the company for more than $ 3 billion.
KBW also pointed to the solution of Gemini’s Earn program problems such as clearing the way for renewed marketing and competitiveness.
A new partnership with Nasdaq could add as much as $ 47.7 million in the short term through custody and efforts for listed companies, with further upside -up tokenization trends, the report said.
KBW quoted Gemini’s overall app and strong insider ownership, led by founders Cameron and Tyler Winklevoss, who benefits that support stability and user growth.
Generally, KBW projects 53% annual revenue growth over three years, surpasses peers and expects profitability at the end of 2027 and calls Gemini a balanced but promising game for investors focusing on a long -lasting crypto -up bike.
The stock was 2% higher premarket of $ 25.80.
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