Gemini Stock Gets $30 Price Target on Massive Payments Card Adoption
Gemini Space Station Inc. (NASDAQ: GEMI) is staging a recovery after a turbulent post-IPO period, with analysts setting mid-term price targets NEAR $30. The stock, which debuted at $28 and briefly surged to $46 before plummeting to $22.25, now trades around $23.3. Mizuho Securities and Truist Securities project gains of 20%-30%, while Needham's John Todaro offers a bullish $42 target.
Growth catalysts include a 287% increase in crypto card sign-ups, expected to reach 31,000 by 2025, and recent regulatory approvals for European expansion. Despite trailing competitors like Coinbase and MicroStrategy, Gemini's licensing progress and Nasdaq's strategic IPO stake have reignited investor interest. Eight analysts now cover the stock, with six recommending buys.
