WhiteFiber (NASDAQ:WYFI) has seen its price target reduced by B. Riley from $44.00 to $40.00, according to a research note issued on November 13, 2023. Despite this adjustment, B. Riley maintains a “buy” rating on the stock, suggesting a potential upside of 134.88% based on its current trading price. This comes as a part of a broader analysis by several research firms on the company’s performance and market outlook.
In addition to B. Riley’s adjustment, other analysts have weighed in on WhiteFiber. Weiss Ratings reiterated a “sell (d)” rating earlier this week. On November 19, JMP Securities established a price target of $37.00, while Citigroup began coverage with an “outperform” rating. UBS Group set a target price of $51.00 on October 6, 2023, and Needham & Company LLC recently lowered its target from $45.00 to $38.00, while maintaining a “buy” rating.
Analyst consensus surrounding WhiteFiber remains cautiously optimistic, with a total of nine firms rating the stock as a buy, one assigning a hold rating, and another issuing a sell rating. According to MarketBeat, WhiteFiber currently holds a consensus rating of “Moderate Buy” along with a target price of $36.30.
Financial Performance and Earnings Report
WhiteFiber’s financial results for the third quarter, released on November 13, 2023, revealed a loss of ($0.47) earnings per share (EPS), missing analysts’ expectations of ($0.12) by ($0.35). The company reported revenue of $20.18 million, falling short of the projected $21.18 million. Despite the earnings miss, WhiteFiber’s revenue marked a significant increase of 64.2% year-over-year.
Institutional Investor Activity
Recent activity among institutional investors indicates growing interest in WhiteFiber. Notable acquisitions include Monashee Investment Management LLC, which invested $9,645,000, and Marshall Wace LLP, which acquired a stake valued at approximately $9,105,000. Other significant investments came from Wasatch Advisors LP with around $8,382,000, Clearfield Capital Management LP at approximately $6,778,000, and Vanguard Group Inc., which invested about $6,563,000.
As WhiteFiber continues to navigate the competitive landscape of artificial intelligence infrastructure, analysts will closely monitor the company’s performance and market dynamics. The adjustments in price targets reflect a cautious yet engaged interest in its future growth potential.
