KPLT - Katapult falls as downgraded to Hold from Buy at Loop Capital

Loop Capital analyst Anthony Chukumba downgraded Katapult (KPLT -7.3%) to Hold from Buy with a price target of $1, down from $5. The company's Q1 results were significantly worse than expected, particularly from a profitability perspective. The analyst does not expect Katapult's performance to improve much in the near term, particularly given its "aggressive" headcount investments over the past several quarters. Since the start of 2022, Katapult shares fell around 61%, and over a period of one year, shares were down around 88%. Wall Street analysts stand with a Buy rating on the stock whereas, Seeking Alpha Quant Rating says Strong Sell.

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Katapult falls as downgraded to Hold from Buy at Loop Capital