BTGO (NYSE:BTGO) Earns Neutral Rating from Analysts at The Goldman Sachs Group

Stock analysts at The Goldman Sachs Group started coverage on shares of BTGO (NYSE:BTGO) in a research report issued on Tuesday. The brokerage set a “neutral” rating and a $11.50 price target on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 7.78% from the stock’s previous close.

BTGO has been the subject of several other reports. Mizuho began coverage on BTGO in a research note on Tuesday. They issued an “outperform” rating and a $17.00 target price for the company. Canaccord Genuity Group initiated coverage on BTGO in a report on Tuesday. They issued a “buy” rating and a $15.00 price target for the company. Cantor Fitzgerald began coverage on shares of BTGO in a report on Tuesday. They set an “overweight” rating and a $18.00 price objective on the stock. Wedbush initiated coverage on shares of BTGO in a research report on Tuesday. They issued an “outperform” rating and a $15.00 target price on the stock. Finally, Wall Street Zen upgraded shares of BTGO to a “hold” rating in a report on Saturday, January 31st. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus 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 Buying and Selling at BTGO

In related news, COO Jody Mettler sold 25,000 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction of $418,500.00. Following the completion of the sale, the chief operating officer directly owned 25,000 shares of the company’s stock, valued at approximately $418,500. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward Reginelli sold 45,000 shares of the firm’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 completion of the transaction, the chief financial officer directly owned 539,000 shares in the company, valued at $9,022,860. This trade represents a 7.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 436,007 shares of company stock worth $7,298,757 in the last quarter.

Key Headlines Impacting BTGO

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.