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

BTGO (NYSE:BTGO) shares gapped up before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Cantor Fitzgerald decreased their price objective on BTGO from $17.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Compass Point assumed coverage on BTGO in a research note on Tuesday, February 17th. They set a “buy” rating and a $17.00 price objective on the stock. Craig Hallum started coverage on BTGO in a research note on Tuesday, February 17th. They set a “buy” rating and a $18.00 price objective on the stock. Deutsche Bank Aktiengesellschaft started coverage on BTGO in a research note on Tuesday, February 17th. They issued a “buy” rating and a $17.00 price target on the stock. Finally, Weiss Ratings started coverage on BTGO in a research note on Wednesday, April 15th. They issued a “sell (d)” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BTGO currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.14.

BTGO Stock Down 13.7%

The business has a 50 day moving average price of $9.75.

BTGO (NYSE:BTGO) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.55). The business had revenue of $3.77 billion during the quarter. The firm’s revenue for the quarter was up 112.6% compared to the same quarter last year. As a group, research analysts anticipate that BTGO will post -0.28 EPS for the current year.

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.