Key Points:
- NewtekOne (NEWT, Financial) anticipates saving $2 million annually by shifting to a remote work model.
- Analysts predict a potential upside of 38.73% for NEWT, with a target price of $14.24.
- GuruFocus estimates a significant upside of 208.54% with a one-year GF Value projection of $31.67.
NewtekOne Inc (NEWT), a bank holding company, is positioning itself for significant annual savings—estimated at $2 million—by transitioning to a predominantly remote work environment. This strategic move involves the termination of office leases amounting to about 52,000 square feet. As a result, NewtekOne's shares experienced a 2.09% increase in pre-market trading, reaching $10.25.
Wall Street Analysts Forecast
Looking ahead, five analysts have set a one-year average price target of $14.24 for NewtekOne Inc (NEWT, Financial), with estimates spanning from a high of $18.70 to a low of $10.00. This average target suggests a potential upside of 38.73% from the current share price of $10.26. To explore more detailed estimate data, visit the NewtekOne Inc (NEWT) Forecast page.
Currently, NewtekOne Inc's (NEWT, Financial) recommendation from seven brokerage firms stands at an average of 2.9, signifying a "Hold" status. This recommendation scale ranges from 1, indicating a Strong Buy, to 5, which denotes a Sell.
Evaluating GF Value
According to GuruFocus estimates, the GF Value for NewtekOne Inc (NEWT, Financial) in the next year is projected to be $31.67. This represents a substantial upside of 208.54% from the current trading price of $10.2645. The GF Value is derived from historical trading multiples, past business growth, and future business performance predictions. For more detailed insights, visit the NewtekOne Inc (NEWT) Summary page.
