Overview
- Mizuho began coverage at Outperform with a $17 target, highlighting BitGo’s institutional-first custody infrastructure and resilient subscription revenue.
- Clear Street set the highest target at $18 with a Buy, projecting roughly 30% net revenue growth and about 60% adjusted EBITDA CAGR through 2028, with margins rising to around 29%.
- Canaccord started with a Buy and a $15 target, emphasizing BitGo’s role in global institutional digital asset custody with secure storage and 24/7 liquidity access.
- Compass Point, Deutsche Bank, and Cantor Fitzgerald also launched bullish views, while Goldman Sachs stood out with a Neutral rating and an $11.50 target based on adjusted EBITDA.
- Mizuho cited more than $100 billion in assets on BitGo’s platform, and InvestingPro data shows profitability with a 14.04 P/E, a 1.64% gross margin, and shares trading above calculated fair value.