Strive Q2 net loss widens on bitcoin value drop
ASST•Key details
| Metric | Actual |
|---|---|
| Q2 Revenue | $2.94 mln |
| Q2 Net Loss | $257.60 mln |
Result drivers
- Bitcoin and equity losses - Q2 net loss mainly attributable to decrease in fair market value of bitcoin and preferred equity holdings
- Dividend payments - Daily dividends on preferred stock contributed to adjusted net loss
- Debt retirement - Company retired all outstanding short and long-term debt, resulting in a debt-free balance sheet
Analyst coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the investment management & fund operators peer group is "buy"
- Wall Street's median 12-month price target for Strive Inc is $28.00, about 124.4% above its August 7 closing price of $12.48
- The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 3 three months ago
