Needham & Company LLC Cuts WhiteFiber (NASDAQ:WYFI) Price Target to $38.00

WhiteFiber (NASDAQ:WYFI) had its price objective trimmed by Needham & Company LLC from $45.00 to $38.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on WYFI. Roth Capital boosted their price objective on WhiteFiber from $28.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. UBS Group set a $51.00 price target on shares of WhiteFiber in a research note on Monday, October 6th. Zacks Research upgraded shares of WhiteFiber to a “hold” rating in a research note on Wednesday, September 3rd. Macquarie raised their price objective on shares of WhiteFiber from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Finally, B. Riley reissued a “buy” rating on shares of WhiteFiber in a research note on Wednesday, October 22nd. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.86.

WhiteFiber Stock Down 9.4%

NASDAQ WYFI opened at $18.00 on Friday. WhiteFiber has a 12-month low of $14.01 and a 12-month high of $40.75. The company has a 50 day simple moving average of $28.43.

WhiteFiber (NASDAQ:WYFI) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.35). The firm had revenue of $20.18 million for the quarter, compared to the consensus estimate of $21.18 million. The business’s revenue for the quarter was up 64.2% on a year-over-year basis.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Gladstone Institutional Advisory LLC acquired a new stake in shares of WhiteFiber during the 3rd quarter worth approximately $349,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in WhiteFiber in the third quarter valued at approximately $1,167,000. Principal Financial Group Inc. bought a new position in WhiteFiber in the third quarter valued at approximately $1,534,000. J.W. Cole Advisors Inc. acquired a new stake in WhiteFiber during the 3rd quarter worth $260,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of WhiteFiber during the 3rd quarter valued at $2,718,000.

WhiteFiber Company Profile

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”).