Canaccord Genuity Group Lowers BARK (NYSE:BARK) Price Target to $15.00

BARK (NYSE:BARK) had its target price dropped by equities research analysts at Canaccord Genuity Group from $30.00 to $15.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 57.41% from the stock’s current price.

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

BARK Trading Down 9.1%

Shares of BARK stock opened at $9.53 on Thursday. The stock’s fifty day simple moving average is $15.43 and its 200 day simple moving average is $15.21. The company has a market capitalization of $82.35 million, a PE ratio of -52.66 and a beta of 2.07. BARK has a 12 month low of $0.50 and a 12 month high of $11.00.

BARK (NYSE:BARK) last posted its earnings results on Thursday, February 5th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.20. The firm had revenue of $98.45 million during 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%. Analysts predict that BARK will post -0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On BARK

Hedge funds have recently made changes to their positions in the business. Cerity Partners LLC increased its stake in BARK by 58.1% in the 2nd quarter. Cerity Partners LLC now owns 55,405 shares of the company’s stock valued at $49,000 after buying an additional 20,359 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in shares of BARK in the 2nd quarter valued at about $32,000. BNP Paribas Financial Markets grew its holdings in shares of BARK by 323.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 50,438 shares of the company’s stock valued at $42,000 after acquiring an additional 38,526 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of BARK by 74.9% in the fourth quarter. Wells Fargo & Company MN now owns 106,808 shares of the company’s stock valued at $64,000 after acquiring an additional 45,737 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in BARK by 92.2% during the fourth quarter. Renaissance Technologies LLC now owns 96,500 shares of the company’s stock worth $58,000 after acquiring an additional 46,300 shares in the last quarter. 28.76% of the stock is owned by institutional investors.

About BARK

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.