Analysts Set BTGO (NYSE:BTGO) PT at $15.14

BTGO (NYSE:BTGO) has earned a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.1364.

BTGO has been the topic of several analyst reports. Wall Street Zen cut BTGO from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of BTGO in a research note on Monday, June 22nd. Rosenblatt Securities lowered their target price on shares of BTGO from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, March 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BTGO in a research report on Monday, July 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $15.00 price target on shares of BTGO in a research note on Friday, March 27th.

BTGO Stock Performance

Shares of NYSE BTGO opened at $4.78 on Friday. BTGO has a 1 year low of $4.66 and a 1 year high of $24.50. The stock’s 50 day moving average price is $6.23. The firm has a market capitalization of $553.94 million and a price-to-earnings ratio of -3.70.

BTGO (NYSE:BTGO) last released its earnings results on Wednesday, May 13th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.55). The business had revenue of $3.77 billion for the quarter. The firm’s revenue was up 112.6% compared to the same quarter last year. Analysts anticipate that BTGO will post -0.32 EPS for the current fiscal year.

BTGO announced that its Board of Directors has approved a stock buyback program on Wednesday, June 17th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Key Headlines Impacting BTGO

Here are the key news stories impacting BTGO this week:

• Negative Sentiment: Several firms, including Kaplan Fox, Rosen, Pomerantz, Bernstein Liebhard, Faruqi & Faruqi, and others, reiterated that class-action lawsuits have been filed against BitGo over alleged investor harm tied to its IPO and disclosures. Article Title
• Negative Sentiment: The lawsuits create an added legal risk for BitGo Holdings, Inc. (BTGO), with firms actively recruiting investors with losses to participate, which can pressure the stock by raising concerns about potential settlements, legal costs, and reputational damage. Article Title
• Neutral Sentiment: BitGo also announced plans to offer institutional custody and off-exchange settlement for USDM1, described as the world’s first natively issued onchain sovereign bond, which could be a longer-term product and business-development positive, but the article provided no financial details or timing for material revenue impact. Article Title

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.