BTGO (NYSE:BTGO) Price Target Lowered to $11.00 at Mizuho

Key Points

• Mizuho lowered BTGO’s price target from $14 to $11 while maintaining an “outperform” rating; the new target implies roughly 99% upside from the $5.53 reference price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $13.59, despite recent target cuts from several brokerages.
• BTGO’s quarterly loss significantly exceeded expectations at $0.16 per share versus an estimated $0.03 loss, although strong revenue growth and a $50 million share-repurchase authorization provide potential positives.

BTGO (NYSE:BTGO - Get Free Report) had its price target lowered by research analysts at Mizuho from $14.00 to $11.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's target price would indicate a potential upside of 99.02% from the company's current price.

A number of other brokerages also recently issued reports on BTGO. Rosenblatt Securities cut their price target on shares of BTGO from $15.00 to $10.00 and set a "buy" rating for the company in a report on Thursday. Weiss Ratings restated a "sell (d)" rating on shares of BTGO in a research report on Monday, July 13th. Wall Street Zen lowered BTGO from a "hold" rating to a "sell" rating in a research note on Sunday, May 17th. Cantor Fitzgerald reiterated an "overweight" rating on shares of BTGO in a report on Monday, June 22nd. Finally, Wedbush cut their price objective on BTGO from $15.00 to $8.00 and set an "outperform" rating for the company in a research report on Thursday. One investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $13.59.

BTGO Stock Up 10.8%

NYSE BTGO opened at $5.53 on Friday. BTGO has a 52 week low of $4.65 and a 52 week high of $24.50. The business's fifty day simple moving average is $5.18 and its 200-day simple moving average is $8.25. The firm has a market cap of $640.91 million and a PE ratio of -4.28.

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 firm had revenue of $4.05 billion for the quarter. Research analysts expect that BTGO will post -0.15 EPS for the current year.

BTGO declared that its board has approved a stock repurchase program on Wednesday, June 17th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 7.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at BTGO

In related news, CEO Michael Belshe sold 38,691 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $4.89, for a total transaction of $189,198.99. Following the transaction, the chief executive officer owned 798,464 shares of the company's stock, valued at approximately $3,904,488.96. This represents a 4.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 firm's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $4.89, for a total value of $44,112.69. Following the transaction, 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 48,464 shares of company stock worth $237,096 in the last quarter.

Key Headlines Impacting BTGO

Here are the key news stories impacting BTGO this week:

• Positive Sentiment: Revenue and client growth were strong: Q2 revenue reached approximately $4.1 billion to $4.3 billion, up roughly 80% year over year, while the company reported 26% client growth. Gross profit increased to $42.5 million and the operating loss narrowed. BitGo Holdings Stock Climbs on Revenue Surge and Buyback Plan
• Positive Sentiment: $50 million buyback announced: BitGo’s share-repurchase plan could provide support for BTGO and signals that management views the stock as undervalued after its substantial decline from its 52-week high.
• Positive Sentiment: Tokenization demand is emerging as a growth opportunity: CEO Mike Belshe said institutional conversations are increasingly focused on tokenization, potentially expanding BitGo’s digital-asset infrastructure business beyond traditional custody. BitGo Says Institutional Conversations Are Shifting to Tokenization
• Neutral Sentiment: Analysts remain constructive despite lower targets: Wells Fargo, Wedbush and Rosenblatt cut their targets to $11, $8 and $10, respectively, but retained “overweight,” “outperform” or “buy” ratings. These targets still imply substantial potential upside from the recent $5.53 reference price.
• Negative Sentiment: Q2 profitability missed expectations: BTGO reported a $0.16 loss per share versus a consensus loss estimate near $0.03–$0.05. Net loss was $19 million, while operating cash flow was negative $18.1 million. BitGo Analysts Slash Their Forecasts After Q2 Results
• Negative Sentiment: Digital-asset losses and weaker margins hurt results: An $18.8 million unrealized digital-asset loss and weaker trading margins pushed the company into the red. Management acknowledged that quarterly performance fell short of expectations. BitGo Posts Q2 Loss Despite Revenue Surge
• Negative Sentiment: Insider selling adds caution: Recent reported insider activity consisted of sales, with no purchases over the past six months, potentially weighing on investor confidence.

About BTGO

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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