BitGo price target cut to $11 by Mizuho

Mizuho Securities has reduced its price target for BitGo Holdings to $11 from $14. This marks the second downward revision for the company this year following its January 2026 IPO.

The adjustment is attributed to a projected 20% decline in net revenue between 2026 and 2027, driven by lower trading volumes and asset valuations within the digital asset ecosystem. Additionally, delays in the Digital Asset Market Clarity Act—a US legislative effort to establish a regulatory framework for crypto assets—have contributed to market uncertainty.

Despite the lowered target, Mizuho maintained an 'Outperform' rating, noting that regulatory delays might actually benefit crypto custodians like BitGo by providing a competitive advantage over less prepared rivals. BitGo currently manages over $100 billion in assets and has seen significant growth in certain business segments, including a 227% increase in trailing twelve-month revenue for some lines.