Katapult (NASDAQ:KPLT) Given a $10.00 Price Target at Stephens

Key Points

• Stephens has raised its price target for Katapult (NASDAQ:KPLT) from $9.00 to $10.00, indicating a potential downside of 21.88% from its previous close.
• In its latest quarterly earnings report, Katapult reported a loss of ($1.23) per share, underperforming the consensus estimate of ($0.72).
• Iridian Asset Management LLC CT increased its stake in Katapult by 31.7% during the first quarter, making it the fund's 18th largest position.

Katapult (NASDAQ:KPLT - Get Free Report) has been assigned a $10.00 target price by analysts at Stephens in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage currently has an "equal weight" rating on the stock. Stephens' target price suggests a potential downside of 22.03% from the company's previous close.

Katapult Price Performance

KPLT traded up $0.04 during trading on Thursday, hitting $12.83. The stock had a trading volume of 53,426 shares, compared to its average volume of 46,157. The company has a 50 day moving average price of $9.98 and a 200-day moving average price of $9.56. The firm has a market cap of $58.20 million, a price-to-earnings ratio of -1.83 and a beta of 1.75. Katapult has a one year low of $5.08 and a one year high of $15.47.

Katapult (NASDAQ:KPLT - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.51). The company had revenue of $71.95 million during the quarter, compared to analyst estimates of $71.80 million. As a group, sell-side analysts predict that Katapult will post -3.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Katapult

An institutional investor recently raised its position in Katapult stock. Northern Trust Corp lifted its holdings in shares of Katapult Holdings, Inc. (NASDAQ:KPLT - Free Report) by 52.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,201 shares of the company's stock after buying an additional 6,956 shares during the period. Northern Trust Corp owned about 0.46% of Katapult worth $137,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 26.81% of the company's stock.

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.