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

WhiteFiber (NASDAQ:WYFI) had its price objective lowered by Needham & Company LLC from $45.00 to $38.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 101.48% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Craig Hallum assumed coverage on shares of WhiteFiber in a research note on Tuesday, September 2nd. They set a “buy” rating and a $25.00 target price for the company. Roth Capital raised their price objective on shares of WhiteFiber from $28.00 to $42.00 and gave the stock 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 report on Monday, October 6th. B. Riley reissued a “buy” rating on shares of WhiteFiber in a research report on Wednesday, October 22nd. Finally, Macquarie increased their target price on shares of WhiteFiber from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, September 26th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.86.

WhiteFiber Price Performance

Shares of NASDAQ:WYFI traded down $1.01 during midday trading on Friday, reaching $18.86. The company’s stock had a trading volume of 1,128,983 shares, compared to its average volume of 1,197,380. WhiteFiber has a 12-month low of $14.01 and a 12-month high of $40.75. The business has a 50 day moving average of $28.40.

WhiteFiber (NASDAQ:WYFI) last announced 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 company had revenue of $20.18 million during the quarter, compared to the consensus estimate of $21.18 million. WhiteFiber’s revenue for the quarter was up 64.2% compared to the same quarter last year.

Hedge Funds Weigh In On WhiteFiber

Several large investors have recently made changes to their positions in the business. Monashee Investment Management LLC acquired a new position in shares of WhiteFiber in the third quarter valued at approximately $9,645,000. Marshall Wace LLP acquired a new position in shares of WhiteFiber in the third quarter worth approximately $9,105,000. Vanguard Group Inc. bought a new position in WhiteFiber during the third quarter worth $6,563,000. Zweig DiMenna Associates LLC bought a new stake in WhiteFiber during the third quarter worth $5,214,000. Finally, Portolan Capital Management LLC bought a new position in shares of WhiteFiber during the 3rd quarter worth approximately $4,365,000.

About WhiteFiber

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”).