BARK (NYSE:BARK) Price Target Cut to $8.00 by Analysts at Canaccord Genuity Group

BARK (NYSE:BARKGet Rating) had its target price cut by equities researchers at Canaccord Genuity Group from $10.00 to $8.00 in a research note issued on Wednesday, The Fly reports. Canaccord Genuity Group’s price objective would suggest a potential upside of 261.99% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. Zacks Investment Research lowered BARK from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. Canaccord Genuity Group decreased their price target on BARK from $16.00 to $12.00 in a research note on Friday, February 11th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, BARK has a consensus rating of “Buy” and a consensus price target of $12.07.

Shares of BARK stock traded down $0.29 during trading on Wednesday, reaching $2.21. The company’s stock had a trading volume of 370,908 shares, compared to its average volume of 1,916,145. The company has a 50-day simple moving average of $3.16 and a two-hundred day simple moving average of $3.70. BARK has a 1-year low of $2.12 and a 1-year high of $13.57.

BARK (NYSE:BARKGet Rating) last issued its quarterly earnings data on Tuesday, May 31st. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.09). On average, equities research analysts anticipate that BARK will post -0.41 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC acquired a new position in shares of BARK during the 3rd quarter valued at $4,629,000. Gabelli Funds LLC bought a new stake in shares of BARK in the 3rd quarter worth about $130,000. Hood River Capital Management LLC bought a new stake in shares of BARK during the 3rd quarter valued at about $14,554,000. Bank of New York Mellon Corp bought a new stake in shares of BARK during the 3rd quarter valued at about $433,000. Finally, Nordea Investment Management AB bought a new stake in shares of BARK during the 4th quarter valued at about $4,091,000. 40.61% of the stock is owned by institutional investors and hedge funds.

BARK Company Profile (Get Rating)

The Original BARK Company, a dog-centric company, provides products, services, and content for dogs. It operates through two segments, Direct to Consumer and Commerce. The company serves dogs through monthly subscription services. It offers monthly themed box of toys and treats under the BarkBox and Super Chewer names; personalized meal plans under the BARK Eats name; health and wellness products under the BARK Bright name; and dog beds, bowls, collars, harnesses, and leashes under the BARK Home brand.

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