Lake Street Capital Cuts PetMed Express (NASDAQ:PETS) Price Target to $7.00

PetMed Express (NASDAQ:PETSGet Free Report) had its price objective decreased by Lake Street Capital from $9.00 to $7.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s price objective points to a potential upside of 69.08% from the company’s current price.

Separately, Morgan Stanley lowered their price target on shares of PetMed Express from $6.50 to $3.50 and set an “underweight” rating for the company in a research report on Wednesday.

Read Our Latest Research Report on PETS

PetMed Express Trading Down 12.1 %

Shares of PETS stock traded down $0.57 during midday trading on Wednesday, reaching $4.14. 671,599 shares of the stock were exchanged, compared to its average volume of 375,786. The firm has a market cap of $87.56 million, a PE ratio of -10.62 and a beta of 0.69. The company’s 50 day moving average is $4.26 and its two-hundred day moving average is $5.54. PetMed Express has a 1 year low of $3.92 and a 1 year high of $15.08.

PetMed Express (NASDAQ:PETSGet Free Report) last issued its quarterly earnings results on Monday, April 15th. The company reported ($0.10) earnings per share for the quarter. The firm had revenue of $65.32 million during the quarter. PetMed Express had a negative return on equity of 1.25% and a negative net margin of 2.92%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PETS. Numerai GP LLC bought a new position in shares of PetMed Express during the third quarter valued at $216,000. Trexquant Investment LP purchased a new stake in PetMed Express during the third quarter valued at approximately $554,000. Ancora Advisors LLC purchased a new position in shares of PetMed Express during the 3rd quarter worth $958,000. Quadrature Capital Ltd grew its position in shares of PetMed Express by 127.2% during the 3rd quarter. Quadrature Capital Ltd now owns 29,597 shares of the company’s stock valued at $303,000 after acquiring an additional 16,573 shares during the period. Finally, Profit Investment Management LLC increased its stake in shares of PetMed Express by 19.3% in the 4th quarter. Profit Investment Management LLC now owns 182,333 shares of the company’s stock worth $1,378,000 after purchasing an additional 29,438 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

About PetMed Express

(Get Free Report)

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.

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