BTGO (NYSE:BTGO) Given New $9.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo lowered its BTGO price target to $9 from $11 but maintained an Overweight rating; the new target implies 106.5% upside from the share price cited in the report.
• BTGO shares fell 14.5% to $4.36 on Tuesday. Analysts overall retain a Moderate Buy consensus, with an average price target of $12.05.
• BTGO reported quarterly EPS of $0.36, beating expectations of a $0.04 loss, while revenue was $2.85 billion; reports cited a roughly 51% year-over-year revenue decline.

BTGO (NYSE:BTGO - Get Free Report) had its target price reduced by equities research analysts at Wells Fargo & Company from $11.00 to $9.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 106.52% from the company's current price.

Several other equities analysts have also commented on BTGO. Citigroup decreased their price objective on shares of BTGO from $17.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, August 14th. Canaccord Genuity Group cut their price target on shares of BTGO from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday. Mizuho set a $9.00 price target on shares of BTGO in a report on Tuesday. Weiss Ratings reaffirmed a "sell (d)" rating on shares of BTGO in a report on Friday, October 9th. Finally, Cantor Fitzgerald lowered their price objective on shares of BTGO from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $12.05.

BTGO Trading Down 14.5%

NYSE BTGO traded down $0.74 on Tuesday, reaching $4.36. 274,903 shares of the stock were exchanged, compared to its average volume of 1,283,446. The firm has a market capitalization of $512.28 million and a PE ratio of -2.98. The company's 50-day simple moving average is $6.69 and its two-hundred day simple moving average is $7.81. BTGO has a one year low of $4.36 and a one year high of $24.50.

BTGO (NYSE:BTGO - Get Free Report) last announced its earnings results on Monday, November 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.40. The business had revenue of $2.85 billion for the quarter. Sell-side analysts forecast that BTGO will post -0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BTGO

Large investors have recently modified their holdings of the business. Stone Ridge Holdings Group LP acquired a new stake in shares of BTGO in the third quarter valued at $43,908,000. Penn Capital Management Company LLC acquired a new position in BTGO during the 3rd quarter worth $976,000. Vise Technologies Inc. acquired a new position in BTGO during the 3rd quarter worth $83,000. Vontobel Holding Ltd. acquired a new position in BTGO during the 3rd quarter worth $75,000. Finally, Aspiriant LLC purchased a new stake in BTGO during the 3rd quarter worth about $135,000.

Key Stories Impacting BTGO

Here are the key news stories impacting BTGO this week:

• Positive Sentiment: BitGo reported Q3 diluted EPS of $0.36, beating the consensus estimate of a $0.04 loss. BitGo earnings results
• Neutral Sentiment: Canaccord Genuity cut its price target from $15 to $12, while Rosenblatt lowered its target from $10 to $9; both firms maintained Buy ratings. The lower targets are a caution, though both remain above the recently cited $4.77 share price. Canaccord Genuity ratings Rosenblatt Securities ratings
• Neutral Sentiment: BitGo is promoting its goStocks initiative and integrating NYDIG’s institutional trading business, which could support longer-term growth, but the provided coverage offers limited detail on near-term financial impact. BitGo goStocks and NYDIG integration
• Negative Sentiment: Q3 revenue was about $2.85 billion, but reports highlighted a roughly 51% year-over-year drop and characterized revenue as a miss. The steep decline tempers the EPS beat and raises questions about growth. BitGo Q3 profit and revenue report
• Negative Sentiment: A third-party report noted that disclosed insider trades over the past six months were sales, with no purchases—a potential confidence concern for investors. BitGo Q3 earnings and insider activity

BTGO Company Profile

BitGo Holdings, Inc NYSE: BTGO is a financial technology company focused on digital asset infrastructure and services. The company provides institutional-grade solutions designed to help businesses securely custody, manage, trade and settle cryptocurrencies and other blockchain-based assets.

Its offerings include qualified digital asset custody, multi-signature wallets, portfolio and treasury management, trading and liquidity services, staking, lending and settlement solutions. BitGo also provides technology and infrastructure that supports cryptocurrency exchanges, financial institutions, investment firms, token issuers and other organizations participating in the digital asset ecosystem.

Founded in 2013, BitGo serves institutional clients in the United States and international markets.

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