Petco Analysts Cut Their Forecasts After Q2 Results

Petco Health and Wellness Company, Inc. WOOF reported earnings results for its second quarter.

Petco Health and Wellness reported quarterly earnings of 6 cents per share. The company reported quarterly sales of $1.53 billion.

Petco sees 2023 adjusted earnings of 24 cents to 40 cents per share on net revenue of $6.215 billion to $6.275 billion.

Petco shares rose 0.1% to trade at $5.20 on Friday.

These analysts made changes to their price targets on Petco following earnings announcement.

• Needham cut the price target on Petco from $12 to $8. Needham analyst Anna Andreeva maintained a Buy rating.
• Wells Fargo slashed the price target on Petco from $11 to $7. Wells Fargo analyst Zachary Fadem maintained an Overweight rating.
• Wedbush cut the price target on Petco from $9 to $6. Wedbush analyst Seth Basham maintained an Outperform rating.
• RBC Capital lowered the price target on Petco from $10 to $7. RBC Capital analyst Steven Shemesh maintained an Outperform rating.
• Morgan Stanley cut the price target on Petco from $9 to $5. Morgan Stanley analyst Simeon Gutman maintained an Equal-Weight rating.
• B of A Securities lowered the price target on Petco from $12 to $10. B of A Securities analyst Elizabeth Suzuki maintained a Buy rating.

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