Evercore ISI Revises Gemini (GEMI) Earnings Forecast, Adjusting Financial Model Forward to FY27

Gemini Space Station Inc. (NASDAQ:GEMI) is one of the stocks that will double in 2026. On December 5, Goldman Sachs lowered the firm’s price target on Gemini to $17 from $19 and kept a Neutral rating on the shares.

Earlier on November 28, Evercore ISI lowered the firm’s price target on Gemini to $15 from $30 and maintained an Outperform rating on the shares. Evercore ISI revised its earnings forecast due to the then-current market conditions and the need to adjust its financial model forward from FY2026 to FY2027.

In Q3 2025, Gemini Space Station’s revenue for the quarter was $49.8 million, which represented a sequential increase of 52%, driven primarily by a 45% increase in trading volume and over 100% growth in credit card transaction volume. The quarter’s success was attributed to the strength of Gemini’s model, built on “trust, engagement, and liquidity. Transaction revenue reached $26.3 million, up 26% sequentially, supported by spot trading volumes of $16.4 billion (up 45% quarter-over-quarter).

On the product front, Gemini launched the Gemini Wallet, which is a self-custody smart wallet, and expanded multi-network support, including the launch of a Solana edition of the Gemini Credit Card and Solana Staking from Custody for institutions. For 2025, management reaffirmed its medium-term target for Monthly Transacting Users to grow at a 20% to 25% CAGR. They expect services revenue and interest income to reach $60 to $70 million for the full year and project sales and marketing expenses to total $45  to $60 million, reflecting targeted investment in growth.

Gemini Space Station Inc. (NASDAQ:GEMI) develops a crypto platform to buy, sell, and store crypto assets.

While we acknowledge the potential of GEMI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.