BTGO (NYSE:BTGO) Price Target Cut to $10.00 by Analysts at Citigroup

BTGO (NYSE:BTGO) had its target price decreased by research analysts at Citigroup from $17.00 to $10.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 76.06% from the company’s current price.

BTGO has been the subject of several other reports. Wall Street Zen cut shares of BTGO from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Weiss Ratings restated a “sell (d)” rating on shares of BTGO in a research report on Monday, July 13th. Wedbush reduced their target price on BTGO from $15.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday. Rosenblatt Securities dropped their price target on BTGO from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Wells Fargo & Company cut their price target on BTGO from $13.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.95.

BTGO Trading Up 2.7%

BTGO traded up $0.15 on Friday, hitting $5.68. 792,054 shares of the company’s stock traded hands, compared to its average volume of 1,156,124. The company’s 50 day simple moving average is $5.18 and its 200-day simple moving average is $8.25. BTGO has a one year low of $4.65 and a one year high of $24.50. The firm has a market cap of $658.65 million and a price-to-earnings ratio of -4.41.

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 $4.05 billion for the quarter. As a group, equities analysts anticipate that BTGO will post -0.15 EPS for the current fiscal year.

BTGO announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 17th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at BTGO

In related news, CFO Edward Reginelli sold 9,021 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $4.89, for a total value of $44,112.69. Following the completion of the transaction, the chief financial officer owned 582,489 shares of the company’s stock, valued at approximately $2,848,371.21. This trade represents a 1.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael Belshe sold 38,691 shares of BTGO stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $4.89, for a total value of $189,198.99. Following the completion of the transaction, the chief executive officer owned 798,464 shares of the company’s stock, valued at approximately $3,904,488.96. This represents a 4.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 48,464 shares of company stock valued at $237,096.

BTGO News Roundup

Here are the key news stories impacting BTGO this week:

• Positive Sentiment: BitGo reported approximately $4.1 billion to $4.3 billion in second-quarter revenue, representing roughly 80% year-over-year growth. Client numbers increased 26%, gross profit reached $42.5 million and the company authorized a $50 million share-repurchase program. These developments point to expanding platform activity and provide potential support for the stock. BitGo Holdings Stock Climbs on Revenue Surge and Share Buyback
• Positive Sentiment: Management said institutional discussions are increasingly shifting toward tokenization, potentially positioning BitGo to benefit from growing demand for digital-asset infrastructure and tokenized financial products. BitGo Institutional Conversations Shift to Tokenization
• Neutral Sentiment: Despite multiple target cuts, analysts remain broadly constructive: Mizuho, Wells Fargo and Wedbush retained “outperform” or “overweight” ratings, while Rosenblatt maintained a “buy” rating. Their revised targets of $8 to $11 still imply substantial potential upside from recent trading levels, but also reflect increased caution following the earnings report. BitGo Analysts Cut Forecasts After Q2 Results
• Negative Sentiment: Second-quarter adjusted performance fell well short of expectations. BitGo posted a $0.16 loss per share versus an anticipated loss of about $0.03-$0.05, while an $18.8 million unrealized digital-asset loss and weaker trading margins weighed on results. Operating cash flow was negative $18.1 million, and management acknowledged that financial performance missed expectations. BitGo Posts Q2 Loss Despite Revenue Surge
• Negative Sentiment: Analysts significantly reduced their targets after the results: Mizuho and Wells Fargo moved to $11 from $14 and $13, respectively; Wedbush cut its target to $8 from $15; and Rosenblatt lowered its target to $10 from $15. The reductions signal concern about profitability, margins and near-term execution. Analyst Price Target Changes
• Negative Sentiment: Reported insider activity has consisted of sales rather than purchases over the past six months, including sales by executives. This may add to investor caution, although institutional ownership activity has been more supportive. BitGo Q2 Earnings and Insider Activity

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.