BTGO (NYSE:BTGO) Trading 9.2% Higher - Should You Buy?

Key Points

• BTGO shares jumped 9.2% to about $11.39 on Monday, but the rally occurred on light volume (~95,468 shares, down roughly 88% from the average).
• Wall Street has a consensus rating of Moderate Buy with an average price target of $15.32, and several recent analyst initiations set buy targets as high as $18.00.
• Most recent quarter showed a ($1.03) EPS loss with $6.16 billion in revenue (slightly above estimates); analysts project $0.05 EPS for the fiscal year and the 50‑day SMA is $9.95.

BTGO (NYSE:BTGO - Get Free Report) shares were up 9.2% on Monday . The stock traded as high as $11.28 and last traded at $11.3850. Approximately 95,468 shares were traded during trading, a decline of 88% from the average daily volume of 824,661 shares. The stock had previously closed at $10.43.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BTGO shares. Craig Hallum started coverage on BTGO in a research note on Tuesday, February 17th. They set a "buy" rating and a $18.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on BTGO in a research note on Tuesday, February 17th. They set a "buy" rating and a $17.00 price objective for the company. Weiss Ratings started coverage on BTGO in a research note on Wednesday, April 15th. They set a "sell (d)" rating for the company. Clear Str raised BTGO to a "strong-buy" rating in a research note on Tuesday, February 17th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $15.00 price objective on shares of BTGO in a research note on Friday, March 27th. One equities 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 given a Sell rating to the company's stock. Based on data from MarketBeat, BTGO has a consensus rating of "Moderate Buy" and an average target price of $15.32.

BTGO Price Performance

The firm has a 50-day simple moving average of $9.95.

BTGO (NYSE:BTGO - Get Free Report) last issued its earnings results on Thursday, March 26th. The company reported ($1.03) EPS for the quarter. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.11 billion. Equities research analysts predict that BTGO will post 0.05 earnings per share for the current fiscal year.

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.

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