Mizuho Significantly Cuts Gemini Price Target as Weak Trading Drags on Core Business

SmartContractAuditor · 2026-03-23T23:13:08+00:00

Investment bank Mizuho has cut Gemini's price target from $26 to $12, as weak trading performance offset growth in its credit card business. Analysts point out that declining crypto asset prices and reduced trading volumes will limit near-term revenue growth. While service-related revenue increased, it was insufficient to offset the decline in trading operations.

SmartContractAuditor

2026-03-23 23:13:08

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Odaily Planet Daily reports that investment bank Mizuho has significantly lowered the target price for the crypto trading platform Gemini from $26 to $12, a decrease of over 50%, mainly due to weak trading performance which offset the positive growth from credit card business.

Analysts Dan Dolev and Andrew Jenkins noted that declining crypto asset prices and reduced platform trading volume are expected to limit Gemini’s short-term revenue growth. Although the company’s card business continues to expand, it is not enough to offset the decline in core trading revenue.

The report also mentioned that Gemini’s revenue structure is changing, with service-based income expected to account for nearly half of total revenue. Additionally, the overall exchange valuation multiples have contracted, impacting the target price adjustment.

Market data shows that Gemini’s stock previously fell to a historic low of $5.50, then slightly rebounded.

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