Xponential Fitness shoots up 15% after Evercore ISI defends the … – Seeking Alpha

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Evercore ISI defended Xponential Fitness (NYSE:XPOF) on Wednesday after the stock plummeted 37.40% on Tuesday in a high-volume move. A short report from Fuzzy Panda Research appeared to spark the sell-off.
Analyst Warren Cheng and team said they found little
Evercore ISI does think it is true that there are plenty of customers and franchisees that are dissatisfied, as there are with any franchisor with thousands of franchises and agrees that some of the alleged prior business practices and behavior of the CEO are troubling and should be followed up on seriously. However, in purely analyzing the fundamentals-related content of XPOF, the Evercore view of the business, its profitability, and its growth potential remains unchanged.
Evercore gave an Outperform rating in place on XPOF and held its estimates steady.
Shares of Xponential Fitness (XPOF) rose 15.39% in premarket trading on Wednesday to cut into the huge one-day drop. The stock was swapping hands at $18.06 at last check vs. the 52-week trading range of $12.08 to $33.58.
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