Funko Is A 'Buy' On This Weakness, Says This Analyst

  • DA Davidson analyst Linda Bolton Weiser reiterated its Buy rating on Funko Inc FNKO and lowered the price target to $48 from $50.
  • The analyst said the company had reported a bigger-than-expected gross margin decline in 2Q22.
  • Weiser said Funko’s new product launches, expanded NFT offerings, and distribution gains abroad should make it fairly resilient in a recession.
  • The company reported a 640 basis points decline in 2Q gross margin to 32.7%.
  • Price Action: FNKO shares are trading lower by 18% at $21.88 on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: Analyst ColorEarningsNewsPrice TargetReiterationSmall CapAnalyst RatingsMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!