Bitcoin Depot (NASDAQ:BTM – Get Free Report) had its price objective dropped by HC Wainwright

Bitcoin Depot Inc owns and operates a network of cryptocurrency kiosks in North America. Its customers can buy and sell bitcoin, litecoin, and ethereum cryptocurrencies

HC Wainwright decreased their price objective on Bitcoin Depot (NASDAQ:BTM) shares from $4.00 to $3.50 in a research note on Thursday, according to Benzinga. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 109.58% from the company’s previous close.

HC Wainwright also issued estimates for Bitcoin Depot’s Q3 2024 earnings at ($0.04) EPS, Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at ($0.21) EPS, Q1 2025 earnings at ($0.16) EPS, Q2 2025 earnings at ($0.02) EPS, Q3 2025 earnings at ($0.02) EPS, Q4 2025 earnings at ($0.03) EPS and FY2025 earnings at ($0.23) EPS.

Bitcoin Depot (NASDAQ:BTM) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.17). The company had revenue of $138.54 million for the quarter, compared to analysts’ expectations of $132.85 million. Bitcoin Depot had a negative net margin of 4.28% and a negative return on equity of 483.86%. Sell-side analysts anticipate that Bitcoin Depot will post 0.04 EPS for the current year.

Bitcoin Depot is engaged in the ownership and operation of a network of cryptocurrency kiosks in North America through its BTM kiosk network and other services, enabling customers to buy and sell bitcoin, litecoin, and ethereum cryptocurrencies. In addition, the company sells cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering and on its website through over-the-counter trade.

What Is the Price Target?

A price target is an estimate of where a stock price is headed over a specified period of time. It is usually set by analysts who follow the company closely and assess its fundamentals. The price targets are often used by investors to gauge the potential upside or downside in a stock.

How Do Analysts Set Price Targets?

Analysts use a variety of methods to set price targets. Some analysts use fundamental analysis, which involves examining a company’s financial statements, revenue growth, earnings per share (EPS), and other metrics to determine its intrinsic value. Others use technical analysis, which involves studying a stock’s price movements and chart patterns to identify potential support and resistance levels.

Are Price Targets Always Accurate?

It is important to note that price targets are not always accurate and should be used as a general guide only. Many factors can influence a stock’s price movements, and unanticipated events can occur that impact its performance.

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