BTGO (NYSE:BTGO) Price Target Cut to $10.00 by Analysts at Citigroup

Key Points

• Citigroup cut BTGO’s price target to $10 from $17 while maintaining a “buy” rating, implying approximately 76% upside from the stock’s $5.68 price. Other analysts also lowered targets, though the consensus rating remains “Moderate Buy” with an average target of $12.95.
• BTGO reported quarterly revenue of $4.05 billion but posted a loss of $0.16 per share, missing the consensus loss estimate of $0.03. Analysts expect the company to report a full-year loss of approximately $0.15 per share.
• The company authorized a $50 million share-buyback program, covering up to 7.9% of outstanding shares, while insiders sold shares primarily to cover tax obligations related to vested equity awards.

BTGO (NYSE:BTGO - Get Free Report) had its target price dropped by stock analysts at Citigroup from $17.00 to $10.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price would indicate a potential upside of 76.06% from the stock's current price.

Other analysts have also issued research reports about the company. Wedbush reduced their target price on BTGO from $15.00 to $8.00 and set an "outperform" rating for the company in a report on Thursday. Mizuho reduced their price objective on BTGO from $14.00 to $11.00 and set an "outperform" rating for the company in a report on Friday. Rosenblatt Securities lowered their target price on shares of BTGO from $15.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday. Wall Street Zen downgraded shares of BTGO from a "hold" rating to a "sell" rating in a report on Sunday, May 17th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of BTGO in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, BTGO presently has an average rating of "Moderate Buy" and an average target price of $12.95.

BTGO Stock Up 2.7%

Shares of NYSE BTGO traded up $0.15 during midday trading on Friday, hitting $5.68. The stock had a trading volume of 792,054 shares, compared to its average volume of 1,156,124. The business's 50 day moving average is $5.18 and its 200-day moving average is $8.25. The company has a market cap of $658.65 million and a P/E ratio of -4.41. BTGO has a 52 week low of $4.65 and a 52 week high of $24.50.

BTGO (NYSE:BTGO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.13). The company had revenue of $4.05 billion for the quarter. As a group, analysts expect that BTGO will post -0.15 EPS for the current fiscal year.

BTGO announced that its Board of Directors has approved a share buyback plan on Wednesday, June 17th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase up to 7.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at BTGO

In other news, CEO Michael Belshe sold 38,691 shares of the business's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $4.89, for a total transaction of $189,198.99. Following the completion of the sale, the chief executive officer owned 798,464 shares of the company's stock, valued at $3,904,488.96. The trade was a 4.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Edward Reginelli sold 9,021 shares of the company's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $4.89, for a total value of $44,112.69. Following the completion of the sale, the chief financial officer owned 582,489 shares of the company's stock, valued at $2,848,371.21. This trade represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 48,464 shares of company stock worth $237,096 in the last quarter.

More BTGO News

Here are the key news stories impacting BTGO this week:

• Positive Sentiment: BitGo reported approximately $4.1 billion to $4.3 billion in second-quarter revenue, representing roughly 80% year-over-year growth. Client numbers increased 26%, gross profit reached $42.5 million and the company authorized a $50 million share-repurchase program. These developments point to expanding platform activity and provide potential support for the stock. BitGo Holdings Stock Climbs on Revenue Surge and Share Buyback
• Positive Sentiment: Management said institutional discussions are increasingly shifting toward tokenization, potentially positioning BitGo to benefit from growing demand for digital-asset infrastructure and tokenized financial products. BitGo Institutional Conversations Shift to Tokenization
• Neutral Sentiment: Despite multiple target cuts, analysts remain broadly constructive: Mizuho, Wells Fargo and Wedbush retained “outperform” or “overweight” ratings, while Rosenblatt maintained a “buy” rating. Their revised targets of $8 to $11 still imply substantial potential upside from recent trading levels, but also reflect increased caution following the earnings report. BitGo Analysts Cut Forecasts After Q2 Results
• Negative Sentiment: Second-quarter adjusted performance fell well short of expectations. BitGo posted a $0.16 loss per share versus an anticipated loss of about $0.03-$0.05, while an $18.8 million unrealized digital-asset loss and weaker trading margins weighed on results. Operating cash flow was negative $18.1 million, and management acknowledged that financial performance missed expectations. BitGo Posts Q2 Loss Despite Revenue Surge
• Negative Sentiment: Analysts significantly reduced their targets after the results: Mizuho and Wells Fargo moved to $11 from $14 and $13, respectively; Wedbush cut its target to $8 from $15; and Rosenblatt lowered its target to $10 from $15. The reductions signal concern about profitability, margins and near-term execution. Analyst Price Target Changes
• Negative Sentiment: Reported insider activity has consisted of sales rather than purchases over the past six months, including sales by executives. This may add to investor caution, although institutional ownership activity has been more supportive. BitGo Q2 Earnings and Insider Activity

BTGO Company Profile

BitGo Holdings Inc is the digital asset infrastructure company delivering custody, wallets, staking, trading, financing, stablecoins and settlement services from regulated cold storage. BitGo Holdings Inc is based in NEW YORK.

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