Analysts Set BTGO (NYSE:BTGO) Price Target at $15.14

Shares of BTGO (NYSE:BTGO – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $12.7727.

BTGO has been the subject of several research analyst reports. 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, August 13th. Weiss Ratings reissued a “sell (d)” rating on shares of BTGO in a report on Monday, July 13th. Citigroup cut their target price on BTGO from $17.00 to $10.00 and set a “buy” rating for the company in a research note on Friday. Mizuho reduced their price target on shares of BTGO from $14.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Wall Street Zen downgraded shares of BTGO from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th.

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Insiders Place Their Bets

In other news, CFO Edward Reginelli sold 9,021 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $4.89, for a total transaction of $44,112.69. Following the transaction, the chief financial officer directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $4.89, for a total value of $189,198.99. Following the transaction, the chief executive officer directly owned 798,464 shares in the company, valued at $3,904,488.96. This trade represents a 4.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 48,464 shares of company stock worth $237,096.

BTGO Price Performance

Shares of NYSE:BTGO opened at $5.55 on Tuesday. The company’s fifty day moving average price is $5.20 and its 200-day moving average price is $8.14. The firm has a market capitalization of $643.58 million and a price-to-earnings ratio of -4.30. BTGO has a one year low of $4.65 and a one year high of $24.50.

BTGO (NYSE:BTGO – Get Free Report) last posted 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 firm had revenue of $4.05 billion for the quarter. As a group, equities research analysts expect that BTGO will post -0.39 EPS for the current year.

BTGO declared that its board has approved a stock buyback plan on Wednesday, June 17th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 7.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

About BTGO

(Get Free Report)

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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