Xponential Fitness falls after Piper Sandler downgrades to 'neutral'

Xponential Fitness

03/01/2024 13:07

** Shares of Xponential Fitness  XPOF.N  down 2.9% at $12.29
premarket
    ** Piper Sandler downgrades the boutique fitness
franchiser's stock to "neutral" from "overweight" and cuts PT to
$13 from $21 
    ** "We are becoming less confident in management's ability
to achieve their long-term growth and margin targets" -
brokerage
    ** Recent reports questioning XPOF management's credibility
could continue to be an overhang on the stock for another few
quarters, limiting share upside - brokerage
    ** Company said in December it was contacted by the
Securities and Exchange Commission to provide certain documents
    ** In 2023, XPOF stock lost 43.8%

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com))