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

BARK (NYSE:BARK) had its price objective decreased by Canaccord Genuity Group from $30.00 to $15.00 in a research note issued to investors on Thursday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Other analysts have also issued research reports about the company. Wall Street Zen upgraded BARK from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Zacks Research upgraded BARK to a “hold” rating in a research note on Tuesday, January 20th. Finally, Lake Street Capital set a $30.00 price target on BARK in a research report on Friday, February 6th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BARK presently has an average rating of “Hold” and an average target price of $35.00.

BARK Price Performance

Shares of NYSE:BARK opened at $9.88 on Thursday. The company’s 50-day moving average price is $15.08 and its two-hundred day moving average price is $15.11. BARK has a one year low of $9.10 and a one year high of $29.60. The stock has a market capitalization of $85.36 million, a PE ratio of -2.74 and a beta of 2.07.

Institutional Investors Weigh In On BARK

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

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.