Strive (NASDAQ:ASST) Price Target Lowered to $28.00 at TD Cowen

Key Points

• TD Cowen lowered its price target on Strive from $32.00 to $28.00 but kept a buy rating, implying about 122.7% upside from the previous close.
• Analyst sentiment remains mostly positive overall: five analysts rate the stock Buy, one rates it Hold, and one rates it Sell, with an average target price of $27.60.
• Strive shares fell to $12.57 on Wednesday, while the company also reported a recent quarterly EPS miss and continued weak profitability, despite revenue coming in slightly above expectations.

Strive (NASDAQ:ASST - Get Free Report) had its price target dropped by equities researchers at TD Cowen from $32.00 to $28.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's price target suggests a potential upside of 122.72% from the stock's previous close.

ASST has been the topic of several other research reports. Benchmark reissued a "buy" rating on shares of Strive in a research note on Monday, June 15th. HC Wainwright upped their price target on Strive from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. B. Riley Financial increased their price objective on shares of Strive from $19.00 to $20.00 and gave the company a "buy" rating in a report on Friday, May 15th. Wall Street Zen raised shares of Strive from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. Finally, Weiss Ratings upgraded shares of Strive from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 14th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $27.60.

Strive Price Performance

ASST stock traded down $0.43 during trading on Wednesday, reaching $12.57. The company's stock had a trading volume of 1,642,692 shares, compared to its average volume of 4,406,852. The company has a quick ratio of 11.44, a current ratio of 11.44 and a debt-to-equity ratio of 0.01. The company's fifty day moving average is $14.57 and its 200-day moving average is $13.49. The company has a market capitalization of $918.80 million, a P/E ratio of -1.46 and a beta of 13.22. Strive has a 1 year low of $7.02 and a 1 year high of $252.00.

Strive (NASDAQ:ASST - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($5.19) EPS for the quarter, missing the consensus estimate of ($2.70) by ($2.49). The business had revenue of $2.76 million during the quarter, compared to analysts' expectations of $2.73 million. Strive had a negative net margin of 9,655.92% and a negative return on equity of 139.10%. On average, research analysts expect that Strive will post -4.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Strive

A number of hedge funds have recently bought and sold shares of the business. Alyeska Investment Group L.P. bought a new stake in shares of Strive in the 3rd quarter worth about $84,375,000. Woodline Partners LP bought a new position in shares of Strive in the 3rd quarter valued at about $31,481,000. Geode Capital Management LLC lifted its holdings in shares of Strive by 939.6% in the 4th quarter. Geode Capital Management LLC now owns 6,755,081 shares of the company's stock valued at $4,988,000 after acquiring an additional 6,105,295 shares during the last quarter. Alpine Fox Capital LLC purchased a new position in Strive in the fourth quarter worth about $2,325,000. Finally, State Street Corp increased its stake in Strive by 3,418.4% during the fourth quarter. State Street Corp now owns 2,702,859 shares of the company's stock worth $1,995,000 after acquiring an additional 2,626,039 shares during the last quarter. Hedge funds and other institutional investors own 5.52% of the company's stock.

About Strive

Asset Entities, Inc NASDAQ: ASST is a specialty finance company that acquires, originates and services asset-backed loans and receivables across a range of industry sectors. The firm focuses on structuring and managing credit portfolios in equipment finance, commercial receivables and other asset-backed classes, employing securitization vehicles and bespoke financing solutions to deliver liquidity to underserved small- and mid-market borrowers.

Through its platform, Asset Entities leverages data-driven underwriting, risk management and portfolio optimization to create diversified exposure across end markets.

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