BitGo price target lowered to $14 from $17 at Mizuho

Mizuho lowered the firm’s price target on BitGo (BTGO) to $14 from $17 and keeps an Outperform rating on the shares. The firm says BitGo’s first results as a public company were” mixed on the headline but cleaner underneath the hood.” On an underlying basis, the company would have been profitable in Q4, but reported a $50M net loss due to unrealized losses on its digital-asset treasury, the analyst tells investors in a research note. Mizuho reduced BitGo estimates to reflect a softer backdrop for crypto.