Katapult (NASDAQ:KPLT) Issues Earnings Results

Katapult (NASDAQ:KPLT) issued its quarterly earnings data on Tuesday. The company reported ($1.41) EPS for the quarter, missing the consensus estimate of ($1.22) by ($0.19), FiscalAI reports. Katapult had a negative return on equity of 16.24% and a net margin of 2.48%.The company had revenue of $74.76 million during the quarter, compared to analysts’ expectations of $73.10 million.

Katapult Stock Down 0.2%

Katapult stock traded down $0.01 during midday trading on Wednesday, hitting $6.24. 3,330 shares of the stock were exchanged, compared to its average volume of 19,702. Katapult has a 52-week low of $5.50 and a 52-week high of $24.34. The business’s 50-day moving average price is $6.68 and its 200-day moving average price is $6.70. The stock has a market capitalization of $29.76 million, a price-to-earnings ratio of 5.43 and a beta of 1.51.

Hedge Funds Weigh In On Katapult

A number of hedge funds and other institutional investors have recently modified their holdings of KPLT. State Street Corp lifted its holdings in Katapult by 17.3% during the fourth quarter. State Street Corp now owns 20,979 shares of the company’s stock worth $136,000 after acquiring an additional 3,100 shares during the period. Bridgeway Capital Management LLC bought a new stake in shares of Katapult during the 4th quarter worth $81,000. Virtu Financial LLC purchased a new position in shares of Katapult in the 3rd quarter worth about $121,000. Two Sigma Investments LP bought a new position in Katapult during the third quarter valued at about $273,000. Finally, Cantor Fitzgerald L. P. purchased a new stake in Katapult during the fourth quarter worth about $1,055,000. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Katapult from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 13th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Katapult presently has a consensus rating of “Reduce” and an average target price of $10.00.

Katapult Company Profile

Katapult Holdings Inc is a New York–based fintech company that provides point-of-sale financing solutions designed to expand access to affordable consumer credit. The company’s platform enables retailers to offer lease-to-own and installment payment options to customers who may not qualify for traditional financing, using a data-driven credit decision engine and proprietary underwriting algorithms. Katapult’s digital approach streamlines the application process and automates account management, helping merchants boost conversion rates and average order values.

The company partners with a broad range of online and omnichannel retailers across categories such as furniture, electronics, outdoor equipment and consumer goods, integrating its financing options via APIs and plug-and-play modules.