In a report released today, Mike Colonnese from H.C. Wainwright reiterated a Buy rating on Bitcoin Depot, with a price target of $6.50.
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Mike Colonnese has given his Buy rating due to a combination of factors, including Bitcoin Depot’s strong financial performance in the second quarter of 2025. The company reported revenues that exceeded expectations, driven by an increase in the number of deployed kiosks and a significant rise in median transaction size. This robust performance, despite a slight dip in gross profit margins, highlights the company’s ability to generate growth and maintain a competitive edge.
Furthermore, Bitcoin Depot’s strategic initiatives, such as expanding its kiosk network both domestically and internationally, and its potential for engaging in mergers and acquisitions, position it well for future growth. The company’s guidance for the third quarter of 2025, which aligns with consensus estimates, suggests continued revenue and EBITDA growth. These factors, combined with effective cost management and operational efficiency, underpin Colonnese’s positive outlook and Buy rating for Bitcoin Depot’s stock.