WhiteFiber (NASDAQ:WYFI) Reaches New 1-Year High - Time to Buy?

Key Points

• WhiteFiber, Inc. (NASDAQ:WYFI) reached a new 52-week high of $27.16 during trading, and last traded at $26.34, marking a significant increase from its previous close of $23.41.
• Multiple analysts have upgraded WhiteFiber's stock rating, with Zacks Research rating it a "hold," and others like Macquarie and Roth Capital setting targets of $28.00 and $28.00 respectively, indicating strong market confidence.
• Five analysts currently rate WhiteFiber as a "buy," contributing to a consensus rating of "Moderate Buy" and an average price target of $29.80.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $27.16 and last traded at $26.34, with a volume of 513032 shares changing hands. The stock had previously closed at $23.41.

Analysts Set New Price Targets

Several research analysts have recently commented on WYFI shares. Zacks Research raised WhiteFiber to a "hold" rating in a research report on Wednesday, September 3rd. Wall Street Zen cut shares of WhiteFiber from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Craig Hallum started coverage on shares of WhiteFiber in a research note on Tuesday, September 2nd. They set a "buy" rating and a $25.00 price objective for the company. Macquarie began coverage on shares of WhiteFiber in a research note on Tuesday, September 2nd. They issued an "outperform" rating and a $28.00 target price for the company. Finally, B. Riley initiated coverage on WhiteFiber in a research report on Tuesday, September 2nd. They set a "buy" rating and a $34.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $29.80.

WhiteFiber Trading Up 6.5%

About WhiteFiber

We believe we are a leading provider of artificial intelligence (“AI”) infrastructure solutions. We own high-performance computing (“HPC”) data centers and provide cloud-based HPC graphics processing units (“GPU”) services, which we term cloud services, for customers such as AI application and machine learning (“ML”) developers (the “HPC Business”).