Of eight brokerages covering Li-Cycle stock, six have a Buy or Strong Buy rating and the other two rate it at Hold. At a share price of around $5.40, the upside potential based on a median price target of $9.50 is nearly 76%. Based on a high price target of $13.00, the upside potential on the stock is 140%.
Fiscal fourth-quarter revenue is forecast at $9.31 million, up from negative reported revenue of $1.97 million sequentially and up from $4.39 million in the year-ago quarter. Analysts are looking for an adjusted per-share loss of $0.13, less than the prior quarter’s loss of $0.21 per share but worse than last year’s fourth-quarter loss of $0.09 per share. For the full 2022 fiscal year, the adjusted loss per share is forecast at $0.41, worse than last year’s loss of $0.28 per share, on sales of $18.79 million, up about 155%. Li-Cycle has issued pro forma results following a change to its fiscal year calendar. The company’s fiscal year now ends in December instead of October.
Li-Cycle is not expected to post a profit in 2022, 2023 or 2024. Its post-IPO trading range is $4.48 to $9.48. Li-Cycle does not pay a dividend, and the total shareholder return for the past year is negative 26.1%.
SoFi Technologies
Decentralized financial (DeFi) services firm SoFi Technologies Inc. (NASDAQ: SOFI) has posted a share price drop of almost 55% over the past 12 months. The good news for investors is that the stock has added more than 25% since the beginning of 2023.
What happens with student loan repayments will play a big role in the company’s performance this year. Refinancing student loans was SoFi’s initial business, but the pandemic and the postponement of student loan payments has killed the refinance business. More changes are in store, and investors will be watching carefully for how those changes will affect SoFi’s business.
Of 14 analysts covering the stock, eight have a Buy or Strong Buy rating and the other six have Hold ratings. At a share price of around $5.90, the upside potential based on a median price target of $7.50 is 27.1%. At the high target of $14.50, the upside potential is about 145%.
Analysts expect the company to report fourth-quarter revenue of $425.53 million, up 1.5% sequentially and by 52.0% year over year. Sofi is expected to post a loss per share of $0.07, better than the prior quarter’s loss of $0.08 per share and the year-ago quarterly loss of $0.12. For the 2022 fiscal year, analysts expect an adjusted loss of $0.37 per share, compared with a loss per share of $0.66 last year. Revenue for the year is pegged at $1.53 billion, up 51.1%.
SoFi is not expected to post a profit in 2022, 2023 or 2024. The stock’s 52-week range is $4.24 to $13.86, and SoFi does not pay a dividend. Total shareholder return for the past year is negative 54.1%.
Originally published at 24/7 Wall St.
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