Circle Internet Group Stock Is Outperforming The S&P 500 Over The Past Month: What's Driving The Rally?

Circle Internet Group, Inc. CRCL shares are trading over 7% higher Monday, extending a rally of more than 85% over the past month. Here’s a look at the key developments fueling the move.What To Know: Circle, the issuer of the USDC stablecoin, kicked off June with an IPO priced at $31 per share. The stock opened for trading on the New York Stock Exchange at $69 per share and has continued to see strong momentum.The IPO raised approximately $1.1 billion through the sale of 34 million Class A shares — 14.8 million from the company and 19.2 million from existing shareholders. Underwriters were also granted a 30-day option to purchase up to 5.1 million additional shares.In late June, Circle shares continued climbing after the company announced a partnership with Fiserv to build stablecoin-enabled solutions for financial institutions and merchants within the Fiserv ecosystem.The collaboration combines Circle's USDC platform and payments network with Fiserv's digital banking tools, expanding access to digital dollar infrastructure and connecting real-world payments to an internet-native financial layer.Circle shares also got a boost after the Senate passed the GENIUS act, or Guiding and Establishing National Innovation for U.S. Stablecoins Act. The stock has also attracted broad analyst attention over the last month, with several analysts initiating coverage with lofty price targets. Analyst firms including Needham, Cannacord Genuity and Barclays all announced price targets above $200.Circle has a consensus price target of $183.75, according to Benzinga analyst data. Estimates range from a low of $80 to a high of $250.Circle stock has rallied over 85% during the past month of trading, while the S&P 500 has gained approximately 6.25%.Related Link: Bonk Surges 58% In 7 Days: Why Is It Outperforming Dogecoin, Shiba Inu?CRCL Price Action: At the time of writing, Circle stock is trading 7.19% higher at $202.34, according to data from Benzinga Pro.Image via Shutterstock