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Investing.com - H.C. Wainwright raised its price target on Bitcoin Depot (NASDAQ:BTM) to $6.50 from $5.00 on Wednesday, while maintaining a Buy rating on the stock. The upgrade comes as BTM shows strong momentum, with a remarkable 206% price return over the past six months, despite a recent 15% pullback last week. According to InvestingPro analysis, the stock currently appears undervalued based on its Fair Value assessment.
The research firm slightly lowered its 2025 revenue estimate for Bitcoin Depot to $630.0 million from $633.7 million previously, citing marginally lower kiosk transaction revenues than initially forecasted.
Despite the revenue adjustment, H.C. Wainwright modestly increased its 2025 adjusted EBITDA estimate to $61.6 million from $61.1 million, reflecting lower projected operating expenses for the cryptocurrency kiosk operator.
For 2026, the firm projects Bitcoin Depot will generate $690.8 million in total revenues and adjusted EBITDA of $72.2 million for the year.
The new price target represents a 7.5x multiple applied to the revised 2025 adjusted EBITDA estimate, which H.C. Wainwright considers conservative compared to valuations of other profitable, publicly traded money transfer, FinTech, and crypto companies, given Bitcoin Depot’s smaller scale.
In other recent news, Bitcoin Depot Inc. announced its financial results for the second quarter of 2025, reporting a 6% increase in revenue, which reached $172.1 million. The company also experienced a substantial rise in net income, which surged by 183% to $12.3 million. Despite these positive earnings results, Bitcoin Depot’s stock faced a notable decline, attributed to broader market concerns over future growth prospects and current conditions. These developments come amid various analyst evaluations, although specific upgrades or downgrades were not detailed in the latest reports. Investors may find the revenue and income growth figures encouraging, though the market’s reaction underscores prevailing uncertainties. The earnings report highlights Bitcoin Depot’s financial health in the face of industry-wide challenges. These recent updates provide a snapshot of the company’s current performance and investor sentiment.
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