Exploration of Sale: Finastra, a financial software company based in London and owned by Vista Equity Partners, is considering selling its core banking unit in the Middle East and Asia. This sale could exceed $1 billion, according to sources familiar with the situation.
Financial Performance: The core banking unit is projected to generate approximately $100 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) this year, indicating strong financial health.
Advisory and Interest: Finastra is collaborating with Arma Partners for the sale process, which is expected to attract interest from private equity firms and competitors in the financial software industry. However, discussions are still in the early stages, and no deal is guaranteed.
Market Context and Recent Developments
M&A Activity: The potential sale aligns with a broader trend in the financial services sector, where several companies have recently been put up for sale, including Hg's FE fundinfo and Calastone's sale to SS&C Technologies. Global mergers and acquisitions (M&A) reached a peak of $2.6 trillion in August, marking the highest level for the first seven months of the year since the pandemic.
Finastra's Background: Finastra was formed in 2017 through the merger of D+H Corp and Misys, following a $3.5 billion acquisition by Vista. The company has been active in restructuring, having sold its Treasury and Capital Markets division to Apax Partners in May, which helped it repay debt.
Future Plans: Proceeds from the potential sale of the core banking unit may be used for further acquisitions to drive growth or to provide dividends to Vista. Additionally, Finastra has recently announced a strategic partnership with Circle Internet Group to enhance cross-border payment settlements using USDC stablecoin.
CRCL
$83+Infinity%1D
Analyst Views on CRCL
Wall Street analysts forecast CRCL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CRCL is 157.54 USD with a low forecast of 70.00 USD and a high forecast of 280.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
Wall Street analysts forecast CRCL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CRCL is 157.54 USD with a low forecast of 70.00 USD and a high forecast of 280.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Buy
4 Hold
2 Sell
Moderate Buy
Current: 75.460
Low
70.00
Averages
157.54
High
280.00
Current: 75.460
Low
70.00
Averages
157.54
High
280.00
Wolfe Research
Underperform
initiated
$60
2025-12-02
Reason
Wolfe Research
Price Target
$60
2025-12-02
initiated
Underperform
Reason
Wolfe Research initiated coverage of Circle Internet with an Underperform rating and $60 price target. Circle is the "undisputed leader" in globally regulated stablecoin, but the company now faces interest rate and competition headwinds, the analyst tells investors in a research note. Meanwhile, the shares are still trading at a premium valuation, contends Wolfe.
Goldman Sachs
Neutral
downgrade
$92 -> $80
2025-11-21
Reason
Goldman Sachs
Price Target
$92 -> $80
2025-11-21
downgrade
Neutral
Reason
Goldman Sachs lowered the firm's price target on Circle Internet to $80 from $92 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.
Baird
David Koning
Neutral -> Outperform
upgrade
$110
2025-11-14
Reason
Baird
David Koning
Price Target
$110
2025-11-14
upgrade
Neutral -> Outperform
Reason
Baird analyst David Koning upgraded Circle Internet to Outperform from Neutral with an unchanged price target of $110. The shares have underperformed the S&P 500 by 63% since June 30 due to the lock-up expiration, which occurred on November 13, and fears of falling rates and rising distribution costs, the analyst tells investors in a research note. Baird views Circle's current valuation as reasonable given the "outstanding growth" of USDC. The lock-up overhang is now past, contends the firm.
Mizuho
Dan Dolev
Underperform
downgrade
$84 -> $70
2025-11-14
Reason
Mizuho
Dan Dolev
Price Target
$84 -> $70
2025-11-14
downgrade
Underperform
Reason
Mizuho analyst Dan Dolev lowered the firm's price target on Circle Internet to $70 from $84 and keeps an Underperform rating on the shares. The firm says its study of over 750 initial public offerings over a 20-year period "bodes poorly" for Circle Internet's share outlook. The studied companies that missed revenue expectations a year post-IPO saw an average underperformance versus the index of 10%, and Mizuho believes fiscal 2027 consensus revenue expectations for Circle are overly optimistic, the analyst tells investors in a research note. The firm says the company faces headwinds from slowing rates, the commodification of stablecoins, and rising distribution costs.
About CRCL
Circle Internet Group, Inc. is a global financial technology company. It operates as a platform, network, and market infrastructure for stablecoin and blockchain applications and the issuer of a United States dollar-denominated stablecoin, USDC and a euro-denominated stablecoin, EURC (collectively Circle stablecoins). It provides a stablecoin network and a range of blockchain-specific software infrastructure. Its product offerings include Stablecoins, Developer Services, Integration Services, and Tokenized Funds. Developer Services develops an array of developer-ready and enterprise-grade infrastructure services that developers can plug into their own applications. It connects and integrates products, such as USDC across blockchain networks. Its Tokenized Funds are regulated yield-bearing investments for collateral use in capital markets. It also offers liquidity services, which provides institutional minting, reserving, redemption, and foreign exchange services for Circle stablecoins.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
