Shares of WhiteFiber, Inc. (NASDAQ:WYFI) have received a consensus recommendation of “Moderate Buy” from eight analysts currently covering the stock, as reported by Marketbeat Ratings. Among these analysts, one has issued a sell recommendation, one has recommended holding the stock, while six have assigned a buy rating.
The average twelve-month price target for WhiteFiber stands at approximately $35.86. This target is based on reports from various brokers over the past year. Notably, Needham & Company LLC recently revised their price target for WhiteFiber from $45.00 to $38.00, maintaining a “buy” rating in a report issued on November 14, 2023. Similarly, Roth Capital lowered their target price from $42.00 to $37.00 while also endorsing a buy rating.
Furthermore, Craig Hallum initiated coverage of WhiteFiber on September 2, 2023, providing a buy rating with a target price of $25.00. In another development, HC Wainwright began coverage on October 1, 2023, assigning a buy rating and a target price of $34.00. Meanwhile, Zacks Research elevated their rating to “hold” on September 3, 2023.
Current Stock Performance and Financial Results
As of the latest trading session, WYFI shares opened at $16.86. The stock has experienced significant fluctuations over the past year, with a low of $14.01 and a high of $40.75. Additionally, the 50-day moving average price for WhiteFiber currently stands at $28.45.
The company recently released its quarterly earnings data on November 13, 2023. WhiteFiber reported an earnings per share (EPS) of ($0.47), which fell short of the consensus estimate of ($0.12) by ($0.35). The firm generated revenue of $20.18 million for the quarter, slightly below the expected $21.18 million. Despite this, the revenue marked a notable increase of 64.2% compared to the same quarter last year.
Company Overview and Market Position
WhiteFiber positions itself as a key player in the realm of artificial intelligence (AI) infrastructure solutions. The company operates high-performance computing (HPC) data centers and provides cloud-based HPC graphics processing units (GPU) services. These offerings cater to a variety of clients, including developers focused on AI applications and machine learning (ML).
In summary, the recent analyst reports indicate a cautious optimism surrounding WhiteFiber, with an average target price reflecting potential growth. As the company continues to navigate the competitive landscape of AI infrastructure, attention will remain on its upcoming performance and strategic decisions.
