Oppenheimer downgraded Sezzle Inc. (SEZL) from Outperform to Perform on June 29, 2026.
The firm cited valuation concerns after the stock surged approximately 158% year-to-date. Analysts believe this price increase already factors in the majority of potential upside for 2026.
Despite the rating change, Oppenheimer noted that Sezzle's underlying business fundamentals remain strong. The firm expects Sezzle to lead its coverage in gross profit and adjusted EBITDA growth.
Strong consumer spending and market share gains continue to support a positive business outlook. However, the current valuation leaves less room for immediate upside.