Newtek Business: Mixed Signals from Analysts

Newtek Business, a company listed on NASDAQ as NEWT, has been in the spotlight recently due to mixed signals from financial analysts. Two analysts, Tim Switzer from KBW and Crispin Love from Piper Sandler, both recommended a "Hold" rating for the stock. However, TipRanks – OpenAI, an AI-driven platform, suggested a "Buy" rating. The company's financial performance has been strong. In the quarter ending September 30, Newtek reported revenue of $95. 05 million and a net profit of $17. 9 million. This is a significant improvement compared to the same period last year, where revenue was $78. 68 million and net profit was $11. 93 million.Analysts' opinions on Newtek Business vary. Tim Switzer, a 4-star analyst with a 10. 0% average return and a 79. 17% success rate, maintains a "Hold" rating with a price target of $13. 00. Crispin Love from Piper Sandler also recommended a "Hold" rating. However, TipRanks – OpenAI, an AI-driven platform, reiterated a "Buy" rating. Corporate insider activity also suggests a positive sentiment. Over the past quarter, there has been an increase in insiders buying shares of NEWT. Last month, Gregory L Zink, a Director at NEWT, bought 500 shares for a total of $6, 030. 00. Newtek Business operates in the financial sector, focusing on stocks such as LendingClub, SoFi, and Cnb Financial. The company's strong financial performance and positive insider sentiment may contribute to its growth potential.