Gemini’s Cosmic Yawn: KBW Shrugs at Crypto’s New Star 🚀💤

by

Markets

Oh, the Drama Unfolds! 🎭

  • KBW, with a yawn that could rival a sloth’s nap, initiated coverage of Gemini with a “market perform” rating and a $27 price target. 🤑 Barely a whisper above its current $25.29! How thrilling.
  • Credit card momentum and a Nasdaq deal? Oh, the audacity! KBW thinks these might drive growth. 🌟 Who would’ve guessed?
  • Strong ownership and a unified platform? KBW says 53% annual growth and profitability by 2027. 🕰️ Mark your calendars, folks, for the day the snail crosses the finish line!

Ah, the illustrious KBW, with its keen eye for the obvious, has deigned to grace Gemini Space Station (GEMI) with its attention. A “market perform” rating, they say, as if the stars themselves tremble at such wisdom. A $27 price target? How generous! Analyst Bill Papanastasiou, in a moment of profound insight, notes that Gemini remains unprofitable. 🧐 Shocking, I know. And its valuation, discounted compared to Coinbase? Well, who could have foreseen such a thing in the wild, unpredictable world of crypto?

KBW, ever the optimist, praises Gemini’s ecosystem-trading, custody, credit cards, staking, stablecoins, and tokenized equities. 🌌 A veritable smorgasbord of financial delights! The credit card business, with its 100,000 users, is hailed as a “key growth driver.” 🏎️ Vroom vroom, indeed. Crypto-based rewards? Revolutionary! Or, you know, just another Tuesday in fintech.

Gemini, that plucky upstart, went public last month at $28 a share, valuing itself at over $3 billion. 💰 KBW, ever the party pooper, reminds us that the Earn program issues are now resolved. 🎉 Hooray? A Nasdaq partnership could add $47.7 million in revenue. 🤑 Chump change, really, but who’s counting?

The Winklevoss twins, those titans of industry, lead with strong insider ownership. 🦸‍♂️🦸‍♂️ KBW projects 53% annualized revenue growth and profitability by 2027. 🗓️ A mere three years away! Better start the countdown clock. Gemini, they say, is a “balanced but promising play.” 🌈 How very Gogol-esque-a promise wrapped in a shrug.

The stock? Up 2% premarket at $25.80. 📈 A triumph! Or, as the great Gogol might say, “a sneeze in a hurricane.” 🌪️

Read More

2025-10-07 17:37