BTGO (NYSE:BTGO) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• BTGO has an average analyst rating of “Moderate Buy” from 15 research firms, with most analysts bullish and the consensus 12-month price target at about $15.14.
• Recent analyst moves were mixed: Mizuho and Rosenblatt lowered price targets, while Wedbush maintained an outperform rating; meanwhile, some firms like Wall Street Zen and Weiss Ratings issued or reiterated sell ratings.
• The company’s latest earnings missed expectations, reporting ($0.62) EPS versus a forecast of ($0.07), even though revenue rose 112.6% year over year to $3.77 billion. BTGO also approved a $50 million share repurchase program, which could signal management sees the stock as undervalued.

Shares of BTGO (NYSE:BTGO - Get Free Report) have received an average rating of "Moderate Buy" from the fifteen research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $15.1364.

Several research analysts have recently weighed in on the stock. Mizuho cut their price objective on shares of BTGO from $17.00 to $14.00 and set an "outperform" rating on the stock in a report on Wednesday, April 1st. Wall Street Zen downgraded shares of BTGO from a "hold" rating to a "sell" rating in a report on Sunday, May 17th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of BTGO in a research report on Monday. Wedbush reiterated an "outperform" rating and issued a $15.00 price target on shares of BTGO in a report on Friday, March 27th. Finally, Rosenblatt Securities decreased their price target on shares of BTGO from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, March 27th.

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BTGO Price Performance

BTGO stock opened at $4.91 on Friday. BTGO has a 12-month low of $4.66 and a 12-month high of $24.50. The firm has a market cap of $569.60 million and a PE ratio of -3.81. The business's 50-day moving average price is $6.39.

BTGO (NYSE:BTGO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.62) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.55). The business had revenue of $3.77 billion during the quarter. The company's revenue was up 112.6% compared to the same quarter last year. On average, equities research analysts predict that BTGO will post -0.32 earnings per share for the current fiscal year.

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

BTGO News Summary

Here are the key news stories impacting BTGO this week:

• Negative Sentiment: Several firms are urging BitGo investors with losses to contact them ahead of the August 7 lead-plaintiff deadline, signaling an active securities-fraud case that can weigh on sentiment and increase legal overhang for the stock. Article Title
• Negative Sentiment: The class action alleges issues related to the IPO offering documents and securities bought during the class period, which could raise concern about disclosure quality and potential liability for BitGo and its officers. Article Title
• Neutral Sentiment: More firms issued investor-rights reminders and deadline notices, reinforcing the legal narrative but adding little new fundamental information about operations or earnings. Article Title

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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