Analyst Mark Palmer of StoneX has maintained a Buy rating on Exodus Movement, setting a price target of $12. This follows the company's third-quarter 2026 performance, where shares traded at $4.63. The analyst highlights the growth in the company's payments segment as a key factor offsetting weaker wallet business.
In the third quarter of 2026, Exodus reported revenue of $32.5 million, representing a 7% increase year-over-year. The company reduced its adjusted EBITDA loss to $3.9 million, down from $6.7 million in the second quarter. The payments division contributed $10.9 million to the total quarterly revenue.
Exodus aims to achieve approximately $30 million in annual operating expense savings by 2027. Currently, five firms cover the stock with a consensus rating of Strong Buy. The average 12-month price target among analysts is $11.7, with individual estimates ranging from $8.50 to $15.
The company's core business remains self-custodial crypto wallets, which are sensitive to fluctuations in crypto trading volumes. Analysts previously lowered their targets earlier in the year due to softer market activity, but recent performance in the payments sector has provided a new growth narrative for the firm.
