Stephens Initiates Coverage on Katapult (NASDAQ:KPLT)

Investment analysts at Stephens started coverage on shares of Katapult (NASDAQ:KPLT) in a report issued on Wednesday,Briefing.com Automated Import reports. The brokerage set an “equal weight” rating and a $9.00 price target on the stock. Stephens’ price objective suggests a potential upside of 30.25% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Cantor Fitzgerald upgraded Katapult to a “hold” rating in a research note on Thursday, October 3rd. Loop Capital cut their price objective on Katapult from $20.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, August 15th.

Katapult Stock Performance

Shares of NASDAQ:KPLT opened at $6.91 on Wednesday. Katapult has a fifty-two week low of $6.64 and a fifty-two week high of $23.54. The business has a 50-day simple moving average of $9.52 and a two-hundred day simple moving average of $14.06. The firm has a market cap of $28.81 million, a price-to-earnings ratio of -0.84 and a beta of 1.72.

Katapult (NASDAQ:KPLT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($2.05) EPS for the quarter. The firm had revenue of $60.31 million for the quarter. During the same quarter last year, the company posted ($0.71) earnings per share.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Katapult stock. Iridian Asset Management LLC CT boosted its holdings in Katapult Holdings, Inc. (NASDAQ:KPLT) by 27.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 400,000 shares of the company’s stock after purchasing an additional 85,742 shares during the quarter. Iridian Asset Management LLC CT owned approximately 9.74% of Katapult worth $4,156,000 as of its most recent SEC filing. 26.81% of the stock is currently owned by institutional investors.

Katapult Company Profile

Katapult Holdings, Inc, an e-commerce focused financial technology company, provides e-commerce point-of-sale lease-purchase options for nonprime consumers in the United States. The company's technology platform provides nonprime consumers with a lease purchase option to enable them to obtain durable goods from its network of e-commerce retailers.