Katapult (NASDAQ:KPLT) Lifted to “Buy” at Zacks Investment Research

Katapult (NASDAQ:KPLTGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report released on Wednesday, Zacks.com reports. The firm currently has a $1.50 target price on the stock. Zacks Investment Research‘s target price suggests a potential upside of 3.45% from the company’s current price.

According to Zacks, “Katapult Holdings Inc. is an e-commerce focused financial technology company. It provides an omnichannel lease-purchase platform, providing alternative solutions for retailers and consumers. Katapult Holdings Inc., formerly known as FinServ Acquisition Corp., is based in NEW YORK. “

Separately, Loop Capital lowered Katapult from a “buy” rating to a “hold” rating and lowered their price objective for the company from $5.00 to $1.00 in a report on Wednesday, May 11th.

Shares of KPLT stock opened at $1.45 on Wednesday. The company has a debt-to-equity ratio of 2.62, a current ratio of 9.23 and a quick ratio of 9.23. Katapult has a fifty-two week low of $1.12 and a fifty-two week high of $14.98. The stock’s 50-day moving average is $1.96 and its two-hundred day moving average is $2.72. The firm has a market cap of $141.89 million, a P/E ratio of -48.32 and a beta of 0.18.

Katapult (NASDAQ:KPLTGet Rating) last issued its quarterly earnings data on Tuesday, March 15th. The company reported ($0.04) EPS for the quarter. The company had revenue of $73.30 million for the quarter. Katapult had a net margin of 2.68% and a negative return on equity of 91.89%. As a group, research analysts expect that Katapult will post -0.32 EPS for the current year.

Large investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC boosted its stake in Katapult by 227.3% during the 3rd quarter. Wolverine Asset Management LLC now owns 10,585 shares of the company’s stock valued at $57,000 after purchasing an additional 7,351 shares during the period. Bluefin Capital Management LLC bought a new stake in Katapult during the 4th quarter valued at approximately $37,000. Advisor Group Holdings Inc. lifted its position in shares of Katapult by 547.3% in the 3rd quarter. Advisor Group Holdings Inc. now owns 11,315 shares of the company’s stock worth $61,000 after acquiring an additional 9,567 shares during the period. Brown Brothers Harriman & Co. bought a new stake in shares of Katapult in the 1st quarter worth approximately $27,000. Finally, Cresset Asset Management LLC bought a new stake in shares of Katapult in the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 47.80% of the company’s stock.

Katapult Company Profile (Get Rating)

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 merchants.

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