Bitcoin Depot, the Financial sector company, was revisited by a Wall Street analyst today. Analyst Hal Goetsch from B. Riley Securities maintained a Hold rating on the stock and has a $2.30 price target.
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Hal Goetsch has given his Hold rating due to a combination of factors impacting Bitcoin Depot’s financial outlook. The company delivered a strong third-quarter performance with revenues and adjusted EBITDA surpassing expectations. However, the guidance for the fourth quarter was notably lower than anticipated, primarily due to increased state regulations and compliance measures that are expected to reduce transaction sizes and volumes.
Furthermore, Bitcoin Depot faces challenges from new regulatory changes in various states, including some towns in New England banning bitcoin kiosks. This regulatory environment is reminiscent of past challenges in California and is likely to result in a decline in revenue growth for the coming year. With expectations of a 9% revenue decrease in 2026 compared to 2025, and a significant drop in EBITDA from $56M in 2025 to $30M in 2026, the outlook remains uncertain. Consequently, Goetsch has adjusted the price target to $2.30, reflecting these challenges and the anticipated financial performance.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $2.50 price target.