B.Riley has lowered its price target for Strive Enterprises, Inc. from $33.00 to $27.00 while keeping a Buy rating. The adjustment comes amid lower Bitcoin assumptions and a larger preferred stock stack. Strive's stock currently trades at $20.86, down from its 52-week high of $34.40. Despite this, analysts maintain a Strong Buy consensus with price targets ranging from $33 to $56, though some suggest the stock may be overvalued.
Strive reported strong third-quarter 2026 results, adding 8,136 Bitcoin in the quarter and another 15,124 in October, bringing its total to 43,124 Bitcoin by October 30. The company's GAAP net income reached $509.0 million, driven by a $533.7 million unrealized gain on Bitcoin. The stock has delivered a 26% return over the past six months and is up 39.5% year-to-date.
B.Riley raised its 2026 Bitcoin holdings estimate for Strive to approximately 47,000 from 31,000 and increased its preferred stock projection to $2.4 billion from $1.2 billion. The firm also lowered its Bitcoin price assumption for the fourth quarter and beyond to $82,500. The company's Bitcoin yield measured 18.5% in the third quarter, down from 23.9% in the second quarter.
In other news, Strive is set to release its earnings, which may result in significant stock movement. The company also announced a $1 billion at-the-market offering for its 15.00% Series A Perpetual Preferred Stock and declared its first cash dividends for this preferred stock, payable on November 9, 2026. StoneX reiterated its Buy rating on Strive with a price target of $32.00.