Compass Point Begins Coverage on BTGO (NYSE:BTGO)

Equities research analysts at Compass Point initiated coverage on shares of BTGO (NYSE:BTGO) in a report issued on Tuesday. The firm set a “buy” rating and a $17.00 price target on the stock. Compass Point’s price target would suggest a potential upside of 59.33% from the company’s previous close.

A number of other research firms have also weighed in on BTGO. Rosenblatt Securities assumed coverage on shares of BTGO in a research note on Tuesday. They issued a “buy” rating and a $17.00 price objective for the company. Mizuho began coverage on shares of BTGO in a research report on Tuesday. They issued an “outperform” rating and a $17.00 price target for the company. Wall Street Zen raised shares of BTGO to a “hold” rating in a report on Saturday, January 31st. Wedbush assumed coverage on shares of BTGO in a research note on Tuesday. They issued an “outperform” rating and a $15.00 price objective for the company. Finally, The Goldman Sachs Group began coverage on BTGO in a research report on Tuesday. They set a “neutral” rating and a $11.50 target price on the stock. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, BTGO has a consensus rating of “Moderate Buy” and a consensus target price of $16.35.

BTGO Stock Up 5.1%

Shares of NYSE BTGO opened at $10.67 on Tuesday. BTGO has a twelve month low of $9.66 and a twelve month high of $24.50.

Insider Activity

In related news, insider Jeff Peter Horowitz sold 116,007 shares of the business’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $16.74, for a total transaction of $1,941,957.18. Following the transaction, the insider directly owned 311,118 shares in the company, valued at $5,208,115.32. The trade was a 27.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward Reginelli sold 45,000 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $16.74, for a total value of $753,300.00. Following the transaction, the chief financial officer directly owned 539,000 shares in the company, valued at $9,022,860. This represents a 7.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 436,007 shares of company stock valued at $7,298,757 over the last three months.

BTGO News Roundup

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

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.