Canaccord Genuity Group Has Lowered Expectations for BARK (NYSE:BARK) Stock Price

BARK (NYSE:BARK - Get Free Report) had its target price dropped by equities research analysts at Canaccord Genuity Group from $2.50 to $2.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Canaccord Genuity Group's price target points to a potential upside of 112.52% from the stock's previous close.

BARK Trading Down 1.1%

Shares of BARK stock traded down $0.01 during trading hours on Thursday, reaching $0.94. 4,409,905 shares of the stock were exchanged, compared to its average volume of 890,542. BARK has a 12-month low of $0.93 and a 12-month high of $2.56. The company's 50-day moving average price is $1.24 and its 200-day moving average price is $1.64. The firm has a market capitalization of $164.61 million, a price-to-earnings ratio of -4.95 and a beta of 2.01.

BARK (NYSE:BARK - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The company reported $0.01 EPS for the quarter, hitting analysts' consensus estimates of $0.01. BARK had a negative net margin of 6.47% and a negative return on equity of 15.34%. The firm had revenue of $115.41 million during the quarter, compared to analysts' expectations of $126.74 million. On average, sell-side analysts expect that BARK will post -0.09 EPS for the current year.

Institutional Investors Weigh In On BARK

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE bought a new stake in BARK during the 4th quarter valued at about $31,000. American Century Companies Inc. bought a new stake in BARK during the 4th quarter valued at about $49,000. BNP Paribas Financial Markets bought a new stake in BARK during the 4th quarter valued at about $57,000. ProShare Advisors LLC lifted its holdings in BARK by 46.0% during the 4th quarter. ProShare Advisors LLC now owns 36,568 shares of the company's stock valued at $67,000 after buying an additional 11,520 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in BARK during the 4th quarter valued at about $82,000. Institutional investors own 28.76% of the company's stock.

BARK Company Profile

BARK Inc, a dog-centric company, provides products, services, and content for dogs. It operates in two segments, Direct to Consumer and Commerce. The company serves dogs through monthly subscription services. It is also involved in the design of playstyle-specific toys, satisfying treats, personal meal plans with supplements, and dog-first experiences designed to foster health and happiness of dogs everywhere.