Gemini Stock Slump May Already Reflect Executive Departures, Mizuho Says

Shares of Gemini Space Station remain near record lows, but analysts at Mizuho Financial Group believe much of the recent turbulence may already be priced into the stock.

In a recent research note, Mizuho reiterated its “outperform” rating and maintained a $26 price target, even after the departures of Gemini’s chief operating officer, chief financial officer, and chief legal officer. The firm argued that while the leadership exits are negative developments, the steep share decline suggests investors have already absorbed much of the impact.

Gemini stock has fallen sharply in recent weeks, trading around $6.02 after losing more than 40% over the past month.

Revenue Outlook and Path to Profitability

Gemini’s preliminary revenue guidance of $165 million to $175 million slightly exceeded analyst midpoint estimates. However, adjusted EBITDA came in weaker than expected, with projected losses between $257 million and $267 million.

Mizuho expects recently announced cost reductions including a 25% workforce cut and withdrawal from select international markets to support margin improvement over time. The firm values Gemini at seven times projected 2027 revenue, below peer averages.

Its bull case scenario sets a $43 target, while the bear case implies $8 per share, still above current trading levels.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.