Strive, Inc. (NASDAQ:ASST) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Wall Street’s consensus rating on Strive is “Moderate Buy”: five of seven analysts recommend buying the stock, with an average 12-month price target of $29.80.
• Recent analyst actions were generally positive, including B. Riley raising its target to $33 and Benchmark and TD Cowen reaffirming “buy” ratings.
• Strive’s latest quarter fell well short of expectations, reporting an adjusted loss of $3.65 per share versus an anticipated loss of $0.95, while revenue was slightly below estimates at $2.94 million.

Shares of Strive, Inc. (NASDAQ:ASST - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $29.80.

Several research analysts have recently issued reports on ASST shares. B. Riley Financial raised their target price on shares of Strive from $26.00 to $33.00 and gave the company a "buy" rating in a research note on Tuesday, September 22nd. HC Wainwright dropped their price target on shares of Strive from $37.00 to $36.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of Strive from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 14th. Benchmark reaffirmed a "buy" rating on shares of Strive in a research note on Thursday, August 20th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Strive in a report on Monday, September 21st.

Insider Buying and Selling at Strive

In related news, Director Pierre Rochard purchased 15,900 shares of the business's stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $12.54 per share, with a total value of $199,386.00. Following the purchase, the director directly owned 15,900 shares in the company, valued at $199,386. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 2.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Strive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp bought a new position in Strive during the second quarter worth about $16,395,000. Squarepoint Ops LLC acquired a new position in shares of Strive during the 2nd quarter worth about $1,394,000. Ameritas Advisory Services LLC bought a new stake in shares of Strive in the 2nd quarter valued at about $516,000. TRU Independence Asset Management 2 LLC bought a new stake in shares of Strive in the 4th quarter valued at about $63,000. Finally, J. Derek Lewis & Associates Inc. acquired a new stake in shares of Strive in the 4th quarter valued at approximately $71,000. Institutional investors own 5.52% of the company's stock.

Strive Stock Up 2.4%

Strive stock opened at $30.11 on Friday. The business's 50-day simple moving average is $20.93 and its 200 day simple moving average is $16.26. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -3.41 and a beta of 13.25. Strive has a 12-month low of $7.02 and a 12-month high of $54.80.

Strive (NASDAQ:ASST - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($3.65) EPS for the quarter, missing analysts' consensus estimates of ($0.95) by ($2.70). The firm had revenue of $2.94 million during the quarter, compared to analyst estimates of $3.02 million. Strive had a negative return on equity of 141.47% and a negative net margin of 10,957.22%. As a group, sell-side analysts expect that Strive will post 1.17 EPS for the current year.

Strive Company Profile

Strive, Inc is a financial services company operating under the Strive brand. Its business is focused on providing investment management and related financial products, with an emphasis on long-term capital preservation, shareholder rights and policies intended to promote value creation for investors.

The company's activities include asset management and the development of investment vehicles designed to give clients exposure to selected investment strategies and markets. Strive has also pursued a Bitcoin-focused treasury strategy, making digital assets an important part of its corporate and investment positioning.

Strive's current public-company structure resulted from the combination of Strive Enterprises and Asset Entities Inc, a social media and digital marketing company whose Nasdaq-listed shares traded under the symbol ASST.

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