Katapult (NASDAQ:KPLT) Posts Earnings Results

Katapult (NASDAQ:KPLT) issued its quarterly earnings results on Tuesday. The company reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($1.22) by ($0.19), FiscalAI reports. Katapult had a net margin of 3.60% and a negative return on equity of 25.37%. The company had revenue of $74.76 million for the quarter, compared to the consensus estimate of $73.10 million.

Katapult Price Performance

Shares of NASDAQ:KPLT traded up $0.05 during mid-day trading on Thursday, reaching $6.39. 14,584 shares of the company traded hands, compared to its average volume of 19,744. The firm has a market cap of $30.45 million, a PE ratio of 4.66 and a beta of 1.51. Katapult has a 52 week low of $5.50 and a 52 week high of $24.34. The company’s 50 day moving average price is $6.68 and its 200-day moving average price is $6.69.

Institutional Investors Weigh In On Katapult

Institutional investors and hedge funds have recently modified their holdings of the stock. Cantor Fitzgerald L. P. bought a new position in Katapult in the 4th quarter worth about $1,055,000. CIBC Private Wealth Group LLC grew its position in shares of Katapult by 131.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 135,513 shares of the company’s stock worth $875,000 after buying an additional 77,042 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Katapult during the third quarter valued at $699,000. Two Sigma Investments LP bought a new position in Katapult in the third quarter worth approximately $273,000. Finally, Bridgeway Capital Management LLC bought a new stake in Katapult during the fourth quarter valued at about $81,000. Institutional investors own 26.81% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Katapult from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $10.00.

About Katapult

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.