Gemini Space Station, Inc. (NASDAQ: GEMI) shares were trending downward on Oct. 7 after Goldman Sachs initiated coverage of the Winklevoss-led crypto exchange and custodian bank with ratings.
The stock was down 1.59% to $24.89 at 1:12 p.m. ET on Tuesday, compared to its previous close of $25.29, and trading between $24.54 and $26.43 on the day.
Analysts rate Gemini
Goldman Sachs initiated coverage with a 'neutral' rating and $25 price target, which is a roughly 0.08% shot up from Monday's close.
The firm's note, which was reported by Briefing.com, pointing to a "mixed" view on Gemini's place in the growing digital asset infrastructure sector and focusing on both opportunity and volatility in the exchange's revenue model.
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Other companies also began coverage on the same day. Evercore ISI "outperform" with a $30 target and Keefe, Bruyette & Woods "market perform" with a $27 target.
Barclays and Morgan Stanley initiated with an "equal weight" rating, with targets of $41 and $29, respectively. Needham & Company LLC was more optimistic, assigning a "buy" rating to the stock and setting a $42 price target, as per reports .
Currently, six analysts offer 'Buy' ratings on the stock, while five recommend 'Hold', and MarketBeat reports that gives Gemini an overall 'Moderate Buy' consensus, along with an average target price of $31.64.
Retail rewards
Credit card users who have been receiving Bitcoin rewards for at least a year averaged 277% gains, as the amount of Bitcoin they received from their rewards mirrored the broader crypto rally.
Cameron and Tyler Winklevoss launched Gemini Space Station in 2014, making it one of the first U.S.-regulated cryptocurrency exchanges, intended to connect traditional finance and digital assets.
The twins, who invested in Bitcoin at $380 , allegedly became one of the first crypto billionaires, have been highly influential in advocating for additional regulatory clarity and the mainstream adoption of cryptocurrencies.
Related: Exclusive: Tether CEO Paolo Ardoino on CBDC threats
This story was originally reported by TheStreet on Oct 7, 2025, where it first appeared in the Trading News & Analysis section. Add TheStreet as a Preferred Source by clicking here.
