Stephens Begins Coverage on Katapult (NASDAQ:KPLT)

Equities research analysts at Stephens started coverage on shares of Katapult (NASDAQ:KPLT) in a note issued to investors on Wednesday, MarketBeat.com reports. The firm set an “equal weight” rating and a $9.00 price target on the stock. Stephens’ target price would suggest a potential upside of 39.10% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Loop Capital cut their target price on Katapult from $20.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. Cantor Fitzgerald raised shares of Katapult to a “hold” rating in a report on Thursday, October 3rd.

Katapult Stock Down 9.6 %

NASDAQ KPLT opened at $6.47 on Wednesday. Katapult has a 52 week low of $6.44 and a 52 week high of $23.54. The firm has a 50 day moving average of $9.35 and a two-hundred day moving average of $13.96. The stock has a market capitalization of $26.98 million, a PE ratio of -0.78 and a beta of 1.72.

Katapult (NASDAQ:KPLT) last issued its earnings results on Wednesday, November 6th. The company reported ($2.05) EPS for the quarter. The company had revenue of $60.31 million for the quarter. During the same quarter in the prior year, the company earned ($0.71) earnings per share.

Hedge Funds Weigh In On Katapult

A hedge fund recently raised its stake in Katapult stock. Renaissance Technologies LLC lifted its position in Katapult Holdings, Inc. (NASDAQ:KPLT) by 18.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,000 shares of the company’s stock after purchasing an additional 3,300 shares during the quarter. Renaissance Technologies LLC owned approximately 0.51% of Katapult worth $353,000 at the end of the most recent quarter. 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.