Wall Street Remains Divided On Bitdeer Technologies (BTDR) Amidst Big Upside Potential

Bitdeer Technologies Group (NASDAQ:BTDR) is one of the 12 tech stocks with the biggest upside potential. Stephen Glagola, an analyst at Keefe Bruyette, downgraded Bitdeer Technologies Group (NASDAQ:BTDR) from Buy to Hold on January 26. He also lowered the firm’s price target for the shares from $26.50 to $14, implying a 7.36% downside from the current levels. This reflects a more cautious view on the company’s valuation outlook. The firm explained in a research note to investors that the company’s growing focus on its AI cloud services introduces additional uncertainty about its long-term value-creation potential. The segment’s relatively small scale drives this uncertainty at present, as does the limited visibility into expansion plans across the United States and Europe.

Bitdeer Technologies remains well-positioned to become the leading publicly traded bitcoin miner by the end of 2026, as per the analyst, who also pointed out that mining is inherently a lower EBITDA multiple business, which continues to weigh on the overall investment case.

In contrast to Keefe Bruyette, Needham analyst John Todaro maintained a Buy rating on the stock while reaffirming the firm’s price target of $30 for the shares on January 16. The firm’s price target offers an attractive 130% upside from the current levels. This upside is consistent with the median Wall Street analyst upside estimate of 134.56%, based on 12 analysts covering the stock.

Bitdeer Technologies Group (NASDAQ:BTDR) is a blockchain and high-performance computing (HPC) technology company operating in the United States, Norway, Singapore, and Bhutan. It provides hash rate sharing solutions and one-stop mining-rig hosting solutions. The company also operates mining datacenters to generate hash rate.

While we acknowledge the potential of BTDR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.