Why Is Wag! Group Stock Trading Higher Today?

Wag! Group PET shares are trading higher on Wednesday after the company reported better-than-expected Q4 EPS and sales results.

Wag! reported Q4 earnings of $0.07 per share which easily beat the analyst consensus estimate for a loss of $0.10 per share. The company reported quarterly sales of $17.04 million which beat the analyst consensus estimate of $13.76 million.

"In 2022, we delivered all-time record results, significantly ahead of our expectations. This has been a pivotal period in the evolution of our company, as we transformed from a services business to a holistic platform for all of our Pet Parents' needs," said Garrett Smallwood, chairman and CEO of Wag!.

For FY2023, Wag! expects revenue to be in the range of $75 million to $77 million versus the analyst consensus estimate of $69.61 million.

Wag! is an American pet care company that offers a technology platform to connect pet owners with independent pet professionals for on-demand and scheduled dog walking, training and other petcare services.

See Also: Why Wag! Group Shares Are Trading Higher By Around 22%; Here Are 20 Stocks Moving Premarket

PET Price Action: Wag! has a 52-week high of $10 and a 52-week low of $1.96.

Wag! shares are up 15.2% at $2.65 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Wag! Group.