BTGO (NYSE:BTGO) Shares Gap Up – Still a Buy?

BTGO (NYSE:BTGO)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $6.93, but opened at $7.54. BTGO shares last traded at $6.41, with a volume of 1,680,108 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Compass Point assumed coverage on BTGO in a report on Tuesday, February 17th. They issued a “buy” rating and a $17.00 price objective on the stock. Citigroup cut their price objective on BTGO from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Keefe, Bruyette & Woods upgraded BTGO to a “hold” rating in a report on Tuesday, February 17th. The Goldman Sachs Group cut their price objective on BTGO from $12.00 to $10.50 and set a “neutral” rating on the stock in a report on Friday, March 27th. Finally, Wedbush restated an “outperform” rating and issued a $15.00 price objective on shares of BTGO in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, BTGO presently has an average rating of “Moderate Buy” and an average target price of $15.14.

BTGO Price Performance

The firm’s fifty day moving average price is $9.75.

BTGO (NYSE:BTGO) last announced 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 company had revenue of $3.77 billion during the quarter. The company’s revenue was up 112.6% on a year-over-year basis. Analysts expect that BTGO will post -0.28 EPS for the current year.

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.