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

BTGO (NYSE:BTGO) has been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $12.77.

A number of analysts have recently weighed in on BTGO shares. Wedbush cut their price target on shares of BTGO from $15.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of BTGO in a research note on Friday, October 9th. Mizuho lowered their price target on BTGO from $14.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, August 14th. Wells Fargo & Company dropped their price objective on BTGO from $13.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Finally, Cantor Fitzgerald dropped their target price on shares of BTGO from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, August 17th.

Institutional Trading of BTGO

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

BTGO Stock Down 5.2%

BTGO opened at $5.51 on Friday. BTGO has a twelve month low of $4.65 and a twelve month high of $24.50. The company has a 50-day simple moving average of $6.98 and a 200 day simple moving average of $6.99. The stock has a market capitalization of $648.27 million and a price-to-earnings ratio of -3.80.

BTGO (NYSE:BTGO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.13). The business had revenue of $4.33 billion for the quarter. Sell-side analysts anticipate that BTGO will post -0.27 EPS for the current fiscal 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.