Keefe Bruyette analyst Stephen Glagola estimates BitGo’s (BTGO) 15% workforce reduction will bring $18M-$29M of cost savings, supporting a path to 2026 EBITDA profitability “if markets remain soft.” The move suggests a more cautious view on crypto conditions, the analyst tells investors in a research note. Keefe says that while the stock’s valuation “appears increasingly compelling,” the near-term performance remains tied to crypto cycles. Meanwhile, BitGo’s July 22 lock-up expiration “introduces a meaningful supply overhang that could limit upside.” The firm has a Market Perform on the name with a $12 price target
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on BTGO:
Disclaimer & DisclosureReport an Issue
