Strive (NASDAQ:ASST) Stock Price Target Cut by HC Wainwright

Key Points

• HC Wainwright cut its Strive price target from $42 to $40 but maintained a Buy rating; the new target implies 88.63% upside from the prior close.
• Analyst sentiment is broadly positive but mixed: MarketBeat reports a “Moderate Buy” consensus and a $34 average target, with five Buy, one Hold, and one Sell rating.
• Strive reported quarterly EPS of $5.46, beating the $3.07 analyst consensus by $2.39.

Strive (NASDAQ:ASST - Get Free Report) had its price target dropped by equities research analysts at HC Wainwright from $42.00 to $40.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's target price would suggest a potential upside of 88.63% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on the stock. Maxim Group set a $37.00 price target on shares of Strive and gave the company a "buy" rating in a research note on Monday, October 12th. B. Riley Financial upped their price objective on shares of Strive from $26.00 to $33.00 and gave the stock a "buy" rating in a research report on Tuesday, September 22nd. Benchmark reaffirmed a "buy" rating on shares of Strive in a report on Thursday, August 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Strive in a research report on Monday, October 12th. Finally, TD Cowen reiterated a "buy" rating on shares of Strive in a research report on Monday, September 21st. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $34.00.

Strive Price Performance

ASST stock traded up $0.62 during mid-day trading on Friday, reaching $21.21. 3,692,126 shares of the company's stock were exchanged, compared to its average volume of 5,605,727. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -2.39 and a beta of 13.32. The stock's 50 day moving average is $26.93 and its 200 day moving average is $16.51. Strive has a 12-month low of $7.02 and a 12-month high of $34.40.

Strive (NASDAQ:ASST - Get Free Report) last posted its quarterly earnings data on Friday, November 6th. The company reported $5.46 EPS for the quarter, beating analysts' consensus estimates of $3.07 by $2.39. Strive had a negative return on equity of 141.47% and a negative net margin of 10,957.22%. On average, research analysts forecast that Strive will post 1.17 earnings per share for the current fiscal year.

Insider Transactions at Strive

In related news, CEO Matthew Cole sold 58,789 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $31.33, for a total value of $1,841,859.37. Following the completion of the transaction, the chief executive officer directly owned 844,795 shares of the company's stock, valued at approximately $26,467,427.35. This represents a 6.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brian Beirne sold 20,077 shares of the firm's stock in a transaction on Monday, October 5th. The shares were sold at an average price of $31.33, for a total value of $629,012.41. Following the completion of the transaction, the insider owned 41,425 shares in the company, valued at $1,297,845.25. The trade was a 32.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 101,409 shares of company stock valued at $3,166,897. Insiders own 2.71% of the company's stock.

Institutional Investors Weigh In On Strive

Large investors have recently modified their holdings of the business. Allworth Financial LP purchased a new position in shares of Strive in the second quarter worth about $66,000. AXQ Capital LP purchased a new stake in Strive during the 2nd quarter valued at about $110,000. The Manufacturers Life Insurance Company purchased a new stake in Strive during the 2nd quarter valued at about $179,000. Corient Private Wealth LP purchased a new stake in Strive during the 2nd quarter valued at about $448,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Strive during the 2nd quarter valued at about $516,000. Hedge funds and other institutional investors own 5.52% of the company's stock.

Strive Company Profile

Strive, Inc is an asset management and financial services company focused on providing investment products and strategies designed to prioritize long-term shareholder value. The company offers exchange-traded funds, separately managed accounts and other investment solutions for individuals and institutions.

Strive's investment approach emphasizes corporate governance, energy security, domestic economic growth and what it describes as shareholder-focused capitalism. Its products are intended to give investors exposure to selected sectors, industries and broader investment themes through professionally managed portfolios.

The company was founded in 2022 by Vivek Ramaswamy.

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