Exodus: Buy Rating Backed by Stablecoin Initiative and Self-Custody Platform Growth Potential

H.C. Wainwright analyst Kevin Dede reiterated a Buy rating on Exodus Movement, Inc. Class A today and set a price target of $25.00.Claim 50% Off TipRanks Premium and Invest with Confidence Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential Kevin Dede has given his Buy rating due to a combination of factors tied to Exodus’s strategic positioning and growth prospects. He views the newly announced partnership with Moonpay and M0 to develop an Exodus-branded stablecoin as a critical building block in the company’s plan to create a comprehensive, crypto-centered personal finance platform. This stablecoin is expected to be integrated into a self-custody wallet architecture, which Dede sees as a key competitive advantage, given that user-controlled keys significantly reduce counterparty risk compared with custodial crypto platforms that have previously failed. He also notes that the stablecoin structure, with reserves managed by Moonpay and yield-sharing among Moonpay, Exodus, and end-users, has the potential to open up a meaningful new revenue stream, even though specific income contributions are not yet forecastable. At the same time, Dede keeps his financial estimates intact, reflecting that key milestones—such as the actual stablecoin launch targeted for 1Q26 and the completion of the W3C acquisition—are still ahead. His current projections call for FY25 revenue of $124.2 million and FY26 revenue of $130.0 million, and he argues that the $25 price target implies a relatively modest 6.2x market-cap-to-sales multiple given the company’s strategic progress. He frames the rating within a balanced risk view, acknowledging the inherent volatility, regulatory, cyber, and operational risks associated with crypto-focused businesses while still concluding that the upside from Exodus’s evolving self-custody financial services platform justifies a Buy recommendation. Overall, the report indicates that the stablecoin initiative and broader platform vision are central to his conviction that Exodus is building durable, differentiated value in the digital asset ecosystem. Dede covers the Technology sector, focusing on stocks such as Exodus Movement, Inc. Class A, DeFi Technologies, and Canaan. According to TipRanks, Dede has an average return of 7.2% and a 36.36% success rate on recommended stocks. In another report released on December 9, Benchmark Co. also reiterated a Buy rating on the stock with a $42.00 price target.