BTGO (NYSE:BTGO) Earns Buy Rating from Analysts at Citigroup

Stock analysts at Citigroup started coverage on shares of BTGO (NYSE:BTGO) in a research note issued on Tuesday. The firm set a “buy” rating and a $18.00 price target on the stock. Citigroup’s target price points to a potential upside of 68.70% from the stock’s previous close.

A number of other research analysts have also commented on BTGO. Wedbush assumed coverage on BTGO in a report on Tuesday. They set an “outperform” rating and a $15.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of BTGO in a research note on Tuesday. They issued a “neutral” rating and a $11.50 target price on the stock. Rosenblatt Securities assumed coverage on BTGO in a research report on Tuesday. They issued a “buy” rating and a $17.00 price target on the stock. Canaccord Genuity Group assumed coverage on BTGO in a research note on Tuesday. They set a “buy” rating and a $15.00 target price for the company. Finally, Compass Point assumed coverage on BTGO in a report on Tuesday. They set a “buy” rating and a $17.00 price target for the company. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, BTGO currently has an average rating of “Moderate Buy” and an average price target of $16.35.

BTGO Trading Up 5.1%

BTGO stock opened at $10.67 on Tuesday. BTGO has a one year low of $9.66 and a one year high of $24.50.

Insider Transactions at BTGO

In other BTGO news, COO Jody Mettler sold 25,000 shares of the business’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total value of $418,500.00. Following the sale, the chief operating officer owned 25,000 shares of the company’s stock, valued at $418,500. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeff Peter Horowitz sold 116,007 shares of the stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction of $1,941,957.18. Following the completion of the transaction, the insider owned 311,118 shares of the company’s stock, valued at approximately $5,208,115.32. This represents a 27.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 436,007 shares of company stock worth $7,298,757 over the last quarter.

Key BTGO News

Here are the key news stories impacting BTGO this week:

• Positive Sentiment: Canaccord Genuity started coverage with a Buy rating and a $15 price target (~40.6% implied upside). Benzinga
• Positive Sentiment: Wedbush initiated coverage with an Outperform rating and a $15 price target (~40.6% implied upside).
• Positive Sentiment: Mizuho launched coverage with an Outperform rating and a $17 target (~59.3% implied upside). Benzinga
• Positive Sentiment: Rosenblatt Securities started coverage with a Buy rating and a $17 target (~59.3% implied upside). Benzinga
• Positive Sentiment: Craig Hallum initiated coverage with a Buy rating and the highest cited target of $18 (~68.7% implied upside). TickerReport
• Neutral Sentiment: Goldman Sachs initiated a Hold, noting BitGo’s solid growth prospects but flagging crypto volatility and margin risks that justify a cautious view. TipRanks / Goldman Sachs note

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.