- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In:
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!
Already a member?Sign in
