Canaccord analyst Maria Ripps raised the firm’s price target on Bark (BARK) to $2.50 from $2 and keeps a Hold rating on the shares. Internet stocks saw a boost from the election result, with investors seemingly expecting artificial intelligence deregulation, a more favorable backdrop for acquisitions, a lower corporate tax rate, and, in some cases, increased demand for American-made goods, should some of the proposed tariff policies be implemented, the analyst tells investors in a research note. The firm says that while expectations regarding the pace of interest rate cuts have shifted recently, with borrowing costs likely staying higher for longer, given a resilient labor market and the possibility that the economy could even accelerate next year, it sees the potential for a constructive macro backdrop in 2025, “which could support both solid fundamentals and further multiple expansion for high-quality names.”
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Read More on BARK:
- BARK Inc. Reports Q2 Results with Revenue Growth
- Bark reports Q2 adjusted EPS 1c, consensus 0c
- Bark sees Q3 revenue $123M-$126M, consensus $128.27M
- Bark backs FY25 revenue view $490M-$500M, consensus $496.68M
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
