BTGO (NYSE:BTGO) Stock Has Average Target Price of $12.77 According to Analysts

Key Points

• Analysts have a Moderate Buy consensus on BTGO, with 10 buy, 1 strong-buy, 3 hold and 1 sell rating among 15 analysts. The average 12-month price target is $12.77.
• Several firms recently lowered their price targets, including Wedbush to $8, Rosenblatt Securities to $10, Mizuho to $11 and Cantor Fitzgerald to $13, while Canaccord Genuity maintained a $15 target.
• BTGO opened at $5.51, well below its $12.77 average target, but recently reported a wider-than-expected quarterly loss of $0.16 per share versus the $0.03 consensus estimate.

Shares of BTGO (NYSE:BTGO - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fifteen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $12.77.

BTGO has been the topic of several research reports. Canaccord Genuity Group reiterated a "buy" rating and issued a $15.00 price objective on shares of BTGO in a report on Friday, August 21st. Cantor Fitzgerald cut their target price 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. Rosenblatt Securities reduced their target price on shares of BTGO from $15.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Mizuho decreased their price target on shares of BTGO from $14.00 to $11.00 and set an "outperform" rating on the stock in a research note on Friday, August 14th. Finally, Wedbush decreased their price target on shares of BTGO from $15.00 to $8.00 and set an "outperform" rating on the stock in a research note on Thursday, August 13th.

Institutional Trading of BTGO

Hedge funds have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. acquired a new position in shares of BTGO in the third quarter valued at about $75,000. Aspiriant LLC acquired a new stake in BTGO in the 3rd quarter worth about $135,000. State Street Corp acquired a new stake in BTGO in the 2nd quarter worth about $1,202,000. ParaFi Capital LP acquired a new stake in BTGO in the 2nd quarter worth about $1,939,000. Finally, Tidal Investments LLC bought a new stake in BTGO in the 2nd quarter valued at about $10,327,000.

BTGO Stock Performance

BTGO stock opened at $5.51 on Friday. BTGO has a 52 week low of $4.65 and a 52 week high of $24.50. The stock has a market capitalization of $648.27 million and a P/E ratio of -3.80. The stock has a 50-day simple moving average of $6.98 and a 200 day simple moving average of $6.99.

BTGO (NYSE:BTGO - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.13). The company had revenue of $4.33 billion during the quarter. Research analysts forecast that BTGO will post -0.27 earnings per share for the current year.

About BTGO

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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