Mizuho cuts BitGo price target to $11 amid Clarity Act delays

Mizuho Securities slashed its price target on BitGo Holdings to $11 from $14, marking the second downward revision this year for a stock that debuted at $18 per share just seven months ago. The culprit: a stalled Digital Asset Market Clarity Act and a crypto market that has not been kind to companies whose revenue depends on digital asset activity. The bank kept its Outperform rating. Mizuho previously trimmed its target from $17 to $14 earlier this year, so the trajectory has been consistently downward since BitGo’s January 2026 IPO. A stock that peaked fast and fell faster BitGo went public in January 2026 at $18 per share. The stock briefly touched highs near $24.50 before declining significantly. Mizuho described the firm as a “high-growth/recurring revenue business” and highlighted its “military-grade” custody capabilities. The firm holds over $100B in assets on its platform. Bitcoin is currently trading roughly 50% below its all-time high. Mizuho projects a 20% decline in net revenue for BitGo between 2026 and 2027, a forecast directly tied to lower trading volumes and asset valuations across the digital asset ecosystem. The Clarity Act problem The Digital Asset Market Clarit...