BARK (NYSE:BARK) Price Target Cut to $15.00 by Analysts at Canaccord Genuity Group

Key Points

• Canaccord Genuity cut its price target on BARK from $30 to $15 and kept a "hold" rating, with that $15 target implying roughly a 57% upside from the stock's recent close near $9.53.
• BARK is a small-cap consumer company (market cap ~$82M) with negative earnings metrics; it reported Q results of EPS -$0.60 (beating estimates) and revenue $98.45M (missing estimates), while the analyst consensus remains a "Hold" with a reported average target of $35 and mixed individual ratings.

BARK (NYSE:BARK - Get Free Report) had its price objective lowered by analysts at Canaccord Genuity Group from $30.00 to $15.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Canaccord Genuity Group's price objective would indicate a potential upside of 57.41% from the company's previous close.

A number of other equities analysts also recently weighed in on BARK. Wall Street Zen raised shares of BARK from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. Zacks Research raised shares of BARK to a "hold" rating in a report on Tuesday, January 20th. Finally, Lake Street Capital set a $30.00 price objective on shares of BARK in a research report on Friday, February 6th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $35.00.

BARK Price Performance

BARK stock opened at $9.53 on Thursday. The business has a fifty day moving average price of $15.43 and a 200 day moving average price of $15.21. BARK has a fifty-two week low of $0.50 and a fifty-two week high of $11.00. The stock has a market capitalization of $82.35 million, a price-to-earnings ratio of -52.66 and a beta of 2.07.

BARK (NYSE:BARK - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.20. The company had revenue of $98.45 million for the quarter, compared to analysts' expectations of $102.63 million. BARK had a negative return on equity of 25.73% and a negative net margin of 7.65%. On average, equities analysts expect that BARK will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BARK

A number of institutional investors have recently made changes to their positions in BARK. AQR Capital Management LLC lifted its stake in BARK by 627.8% in the first quarter. AQR Capital Management LLC now owns 154,257 shares of the company's stock valued at $214,000 after buying an additional 133,061 shares during the period. NewEdge Advisors LLC bought a new stake in shares of BARK in the 1st quarter valued at about $65,000. Panagora Asset Management Inc. acquired a new stake in shares of BARK in the 2nd quarter valued at approximately $91,000. Arrowstreet Capital Limited Partnership raised its position in shares of BARK by 15.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,692,503 shares of the company's stock valued at $1,489,000 after acquiring an additional 230,131 shares during the period. Finally, Gabelli Funds LLC boosted its stake in BARK by 100.0% during the 2nd quarter. Gabelli Funds LLC now owns 100,000 shares of the company's stock worth $88,000 after acquiring an additional 50,000 shares during the last quarter. 28.76% of the stock is owned by institutional investors and hedge funds.

BARK Company Profile

BARK is a consumer products and services company focused on the canine market, offering a suite of subscription-based and direct‐to‐consumer offerings designed to meet the everyday needs of dogs and their owners. The company's core business revolves around carefully curated boxes of toys, treats and chews, which are delivered monthly to subscribers through its flagship BarkBox service. Over time, BARK has expanded its reach beyond subscription, tapping into e-commerce and wholesale channels to broaden its customer base.

In addition to BarkBox, the company operates BarkShop, an online storefront that allows customers to purchase toys, grooming supplies and nutrition products on an a la carte basis.

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