BTGO (NYSE:BTGO) Price Target Lowered to $14.00 at Mizuho

BTGO (NYSE:BTGO) had its target price cut by stock analysts at Mizuho from $17.00 to $14.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 61.48% from the company’s current price.

A number of other research analysts also recently issued reports on BTGO. Craig Hallum initiated coverage on BTGO in a research note on Tuesday, February 17th. They set a “buy” rating and a $18.00 price target on the stock. Keefe, Bruyette & Woods upgraded shares of BTGO to a “hold” rating in a research note on Tuesday, February 17th. Citigroup lowered their price target on BTGO from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Wedbush reaffirmed an “outperform” rating and set a $15.00 price objective on shares of BTGO in a research note on Friday, March 27th. Finally, The Goldman Sachs Group dropped their price objective on shares of BTGO from $12.00 to $10.50 and set a “neutral” rating on the stock in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, BTGO presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.32.

BTGO Stock Performance

Shares of BTGO stock opened at $8.67 on Wednesday. BTGO has a 52 week low of $7.25 and a 52 week high of $24.50. The company has a 50 day moving average of $10.74.

BTGO (NYSE:BTGO) last issued its quarterly earnings data on Thursday, March 26th. The company reported ($1.03) earnings per share for the quarter. The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.11 billion.

Insiders Place Their Bets

In other news, CFO Edward Reginelli sold 45,000 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction of $753,300.00. Following the transaction, the chief financial officer directly owned 539,000 shares of the company’s stock, valued at $9,022,860. This represents a 7.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jody Mettler sold 25,000 shares of the stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction of $418,500.00. Following the completion of the transaction, the chief operating officer owned 25,000 shares of the company’s stock, valued at $418,500. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 436,007 shares of company stock worth $7,298,757.

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.