Needham & Company LLC Has Lowered Expectations for WhiteFiber (NASDAQ:WYFI) Stock Price

WhiteFiber (NASDAQ:WYFI) had its price target reduced by stock analysts at Needham & Company LLC from $45.00 to $38.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 111.11% from the company’s previous close.

A number of other research analysts have also commented on the stock. Wall Street Zen lowered shares of WhiteFiber from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. Craig Hallum assumed coverage on WhiteFiber in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $25.00 price target on the stock. UBS Group set a $51.00 price objective on WhiteFiber in a research note on Monday, October 6th. B. Riley reiterated a “buy” rating on shares of WhiteFiber in a research note on Wednesday, October 22nd. Finally, Zacks Research upgraded WhiteFiber to a “hold” rating in a research note on Wednesday, September 3rd. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.86.

WhiteFiber Trading Down 9.4%

NASDAQ:WYFI opened at $18.00 on Friday. WhiteFiber has a 52-week low of $14.01 and a 52-week high of $40.75. The stock’s 50 day moving average price is $28.43.

WhiteFiber (NASDAQ:WYFI) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.35). The firm had revenue of $20.18 million during the quarter, compared to analyst estimates of $21.18 million. WhiteFiber’s quarterly revenue was up 64.2% compared to the same quarter last year.

Hedge Funds Weigh In On WhiteFiber

A number of large investors have recently modified their holdings of the business. J.W. Cole Advisors Inc. acquired a new stake in shares of WhiteFiber in the 3rd quarter valued at approximately $260,000. Gladstone Institutional Advisory LLC purchased a new position in WhiteFiber in the third quarter worth $349,000. Two Sigma Investments LP acquired a new stake in WhiteFiber in the third quarter valued at $396,000. Van ECK Associates Corp acquired a new stake in WhiteFiber in the third quarter valued at $579,000. Finally, Ghisallo Capital Management LLC purchased a new stake in shares of WhiteFiber during the 3rd quarter worth $679,000.

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”).