Cantor Fitzgerald lowered the firm's price target on BitGo to $15 from $17 and keeps an Overweight rating on the shares. BitGo reported both revenue and adjusted EBITDA below expectations as weak crypto market conditions drove sequential declines in trading and subscription revenue, partially offset by stronger staking activity, while management emphasized continued product expansion and institutional partnerships positioning the platform for a potential recovery as crypto markets improve, the analyst tells investors in a research note.
