Shares of BTGO (NYSE:BTGO – Get Free Report) gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $11.91, but opened at $10.70. BTGO shares last traded at $9.8670, with a volume of 373,065 shares.
The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.55). The firm had revenue of $3.77 billion during the quarter. The business’s revenue for the quarter was up 112.6% compared to the same quarter last year.
Analysts Set New Price Targets
BTGO has been the topic of a number of recent analyst reports. Weiss Ratings started coverage on shares of BTGO in a research report on Wednesday, April 15th. They issued a “sell (d)” rating on the stock. Mizuho decreased their price objective on shares of BTGO from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of BTGO in a research note on Tuesday, February 17th. They set a “buy” rating and a $17.00 target price for the company. Cantor Fitzgerald cut their price target on BTGO from $17.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Compass Point began coverage on BTGO in a report on Tuesday, February 17th. They set a “buy” rating and a $17.00 price target for the company. One research 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.14.
BTGO Trading Down 16.1%
The firm has a 50-day moving average of $10.22.
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.
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