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Investing.com - Exodus Movement, Inc. (OTC:EXOD) received a reiterated Buy rating and $42.00 price target from Benchmark, following the company’s acquisition announcement. The target represents a 175% upside from the current price of $15.25, with analyst consensus remaining strongly bullish at 1.14 (Strong Buy). According to InvestingPro data, EXOD is currently trading at an attractive P/E ratio of just 4.72.
The self-custody crypto wallet provider disclosed Monday after market close that it agreed to acquire W3C Corp., including its subsidiaries Baanx and Monavate, for $175 million in cash. InvestingPro data shows EXOD holds more cash than debt on its balance sheet with a strong current ratio of 4.88, positioning it well for this significant acquisition.
Benchmark described the transaction as Exodus Movement ’s "most transformational strategic move to date," positioning the company to become the first self-custody crypto wallet provider controlling a complete end-to-end payments stack.
The acquisition is expected to close in the first half of 2026, according to the announcement.
Beyond payments functionality, the deal would provide Exodus with regulated infrastructure, card-issuing capabilities, stablecoin payments rails, and global licensing relationships.
In other recent news, Exodus Movement Inc. reported a strong third quarter with a notable 51% increase in revenue, reaching $30.3 million, which exceeded the forecast of $29.5 million. The company’s earnings call also highlighted a significant rise in swap volume and a strategic acquisition, reflecting positive operational developments. Following these results, Benchmark adjusted its price target for Exodus Movement to $42, down from $58, while maintaining a Buy rating, citing a solid performance amid challenging market conditions. Similarly, BTIG lowered its price target to $40 from $50 but also retained a Buy rating, noting that the company’s quarterly results were in line with expectations. These adjustments come after the company’s third-quarter results, which were consistent with market forecasts. The strategic acquisition mentioned during the earnings call may have contributed to these analyst assessments. Both Benchmark and BTIG’s decisions indicate a cautious yet optimistic outlook on the company’s future performance.
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