BitGo price target lowered to $16 from $18 at Clear Street

Clear Street lowered the firm’s price target on BitGo (BTGO) to $16 from $18 and keeps a Buy rating on the shares following the Q4 report. The company is shifting towards higher-quality, recurring revenue and improving operating leverage, the analyst tells investors in a research note. The firm remains positive on the shares but cut BitGo’s estimates to reflect near-term macro headwinds.