Fold Holdings

FLD · NASDAQ

$0.5102+$0.0002 (+0.04%)TodayMarket closed · Oct 20, 7:58 PM ET

Prev close $0.51

FLD analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy3
Hold0
Underperform0
Sell0

12-month price target · 6 analysts

Average $2.32 (+355.4% upside)

Low: $0.707
Now: $0.5102
High: $4.40

Upgrades and downgrades

The latest rating actions, newest first

FLD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Cantor Fitzgerald	Aug 14, 2026	Maintains	Overweight	$1.70 → $0.70	75%
Cantor Fitzgerald	May 13, 2026	Maintains	Overweight	$2.00 → $1.70	40%
HC Wainwright & Co.	Mar 18, 2026	Maintains	Buy	$7.00 → $3.00	38%
Cantor Fitzgerald	Mar 18, 2026	Maintains	Overweight	$4.50 → $2.00	40%
HC Wainwright & Co.	Feb 9, 2026	Maintains	Buy	$7.00	38%

The case for and against

Updated Oct 18, 2026

Bull case

Fold Holdings is positioned favorably because its platform is evolving from a transaction-led bitcoin service into a broader asset-gathering financial ecosystem, supported by the new core banking partnership with Lead Bank that can enable deposits, withdrawals, ACH, FedNow/FedWire, direct deposit, and trading economics. The bitcoin rewards credit card is gaining traction, with more than 2,000 cardholders as of August 11, transactions per user up roughly 4x several months after onboarding, and an ~80k-person waitlist that suggests substantial latent demand as distribution broadens. Management also sees the Bitcoin Gift Card and Fold for Business as scalable acquisition and retention channels, with the Kroger partnership already onboarding thousands of users and helping improve durability, predictability, and long-term monetization across the product suite.

Bear case

Fold Holdings is facing a weaker fundamental outlook as estimates for 2026E and 2027E revenue were cut sharply, reflecting a softer crypto trading backdrop and slower-than-expected adoption of its Bitcoin Rewards Credit Card, which added only about 1.0k active cards q/q in 2Q versus a 7.5k estimate. The business remains highly exposed to Bitcoin price swings, intensifying competition from emerging cryptocurrencies, and execution risk as it scales card products while managing fraud and underwriting constraints. Even with more than 1,000 cards in circulation after the early March rollout and some encouraging cross-product engagement, the need for a more conservative view on transaction volume and newer product ramp supports a negative stance.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.