UPDATE: Compass Point Starts Voyager Digital Ltd. (VYGR:CN) (VYGVF) at Buy, Top Crypto Pick

June 21, 2021 8:00 AM EDT
Get Alerts VYGR:CN Hot Sheet
Price: $0.00 --0%

Rating Summary:
    0 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
Trade Now! 
Join SI Premium – FREE
(Updated - June 21, 2021 8:00 AM EDT)

Compass Point analyst Michael Del Grosso initiates coverage on Voyager Digital Ltd. (VYGR:CN) (OTC: VYGVF) with a Buy rating and a price target of Cdn$45.00.

The analyst comments "We initiate coverage of Voyager Digital Ltd. (VYGR) with a BUY rating and C$45 price target. We believe that Voyager is a differentiated consumer app offering retail investors a unique trading opportunity into the crypto asset class. As compared to larger peers, Coinbase, Square, and PayPal, Voyager has a strong value proposition in that it has a zero-commission trading model, offers a broader array of crypto trading pairs, and offers interest on a larger number of coins. We believe that this value proposition, combined with the large amount of dry powder (>$100M in potential marketing spend) should drive ~1M incremental funded accounts by YE22 and AUM of ~$11B. With shares currently trading at 10.3x our CY22E EPS we believe shares represent one of the most attractive opportunities within the Blockchain / Cryptocurrency industry. Initiate at BUY."

You May Also Be Interested In

Related Categories

Analyst Comments, Cryptocurrency, Hot Comments, Hot New Coverage, Intl Ratings, New Coverage