What's Going On With Dutch Bros Stock After Earnings?

Dutch Bros Inc. BROS shares are sinking Thursday after the company reported its second-quarter results after Wednesday's closing bell.

The Details:

Dutch Bros second-quarter results beat analyst expectations on the top and bottom lines, however the company issued full-year revenue guidance below the consensus estimate. The company now expects full-year revenue in a range of $1.215 billion to $1.23 billion, versus the $1.23 billion estimate.

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The following analysts updated coverage on Dutch Bros after the print: 

• Baird analyst David Tarantino maintained a Neutral rating on the stock and lowered the price target from $42 to $37.
• TD Cowen maintained Dutch Bros with a Buy rating, but lowered its price target from $50 to $47.

According to data from Benzinga Pro, Dutch Bros shares are falling on heavy volume Thursday well-below the stock’s 50-day moving average of $38.98. 

Will BROS Stock Go Up?

When trying to assess whether or not Dutch Bros will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $44.73 on Dutch Bros. The Street high target is currently at $50 and the Street low target is $36. Of all the analysts covering Dutch Bros, 8 have positive ratings, 3 have neutral ratings and no one has negative ratings.

In the last month, 3 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Dutch Bros have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Dutch Bros is 11.2% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Dutch Bros, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

BROS Price Action: According to Benzinga Pro, Dutch Bros shares are down 20.6% at $29.92 at the time of publication Thursday.

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 Image: Courtesy of Dutch Bros, Inc.