According to Bloomberg, Circle's stock price has surged nearly 490% since going public, but lead underwriter JPMorgan Chase recently gave the company a "underweight" rating with a target price of $80, a drop of about 60% from its high point. Analyst Kenneth Worthington pointed out that Circle is facing fierce competition as companies such as Fisvev, Mastercard, Amazon, and Walmart consider issuing their own stablecoins.