
GEMI Stock Forecast & Price Target
GEMI Analyst Ratings
Bulls say
Gemini Space Station is attractive because it is broadening from a crypto exchange into a multi-vertical “markets company” spanning trading, onchain, card, custody, derivatives, and predictions, which creates cross-sell opportunities and a more durable ecosystem. Fundamental momentum is visible in Services revenue, which rose 149% y/y to $23.5m, while credit card revenue climbed 231% y/y to $16.2m and prediction contracts traded increased 93% q/q, suggesting strong product-market fit in higher-growth adjacencies. At the same time, operating discipline improved materially, with Q2 operating expenses down 15% q/q to $122.4m and headcount down to about 400, giving the company more leverage to absorb weak crypto market conditions while it scales new monetization streams.
Bears say
Gemini Space Station is viewed negatively because its core economics remain heavily tied to volatile crypto trading, where spot volume fell to $3.8bn in 2Q26 from $6.3bn in 1Q26 and $11.3bn in 2Q25, while assets on platform dropped to $8.4bn from $18.2bn a year ago. Margin pressure is compounded by sustained losses, with adjusted EBITDA around $(49)m in 2Q26 and a later quarter at $(74)m, as higher transaction losses and declining revenue overwhelm operating expense cuts. Credit-card expansion also looks fragile after a $16.1m provision tied to fraud in 2Q26, 30+ DPD rose to 9.4%, and new products such as prediction markets and equities are not yet contributing meaningfully.
This aggregate rating is based on analysts' research of Gemini Space Station, Inc. and is not a guaranteed prediction by Public.com or investment advice.
GEMI Analyst Forecast & Price Prediction
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