Wag! Group (NASDAQ:PET) Price Target Cut to $3.00 by Analysts at Oppenheimer

Wag! Group (NASDAQ:PET) had its target price reduced by Oppenheimer from $6.00 to $3.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 212.63% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Chardan Capital reaffirmed a “buy” rating and set a $8.00 target price on shares of Wag! Group in a research note on Friday, May 10th. Roth Mkm lowered their price target on shares of Wag! Group from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, July 16th. DA Davidson reduced their price target on Wag! Group from $6.00 to $3.50 and set a “buy” rating for the company in a report on Thursday, May 16th. Finally, Lake Street Capital started coverage on Wag! Group in a research note on Thursday, May 30th. They issued a “buy” rating and a $4.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Wag! Group currently has an average rating of “Buy” and a consensus target price of $4.40.

Wag! Group Stock Performance

Shares of Wag! Group stock traded down $0.07 during trading on Friday, hitting $0.96. 196,201 shares of the stock were exchanged, compared to its average volume of 101,572. The stock has a market cap of $38.98 million, a PE ratio of -2.64 and a beta of 1.79. The stock’s fifty day moving average is $1.43 and its 200 day moving average is $1.83. Wag! Group has a 12 month low of $0.91 and a 12 month high of $2.65. The company has a debt-to-equity ratio of 15.59, a quick ratio of 1.33 and a current ratio of 1.33.

Wag! Group (NASDAQ:PET) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). Wag! Group had a negative return on equity of 553.34% and a negative net margin of 15.92%. The business had revenue of $18.65 million during the quarter, compared to analyst estimates of $18.60 million. As a group, sell-side analysts anticipate that Wag! Group will post -0.26 EPS for the current year.

Insider Buying and Selling at Wag! Group

In other Wag! Group news, CEO Garrett Smallwood sold 28,443 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $1.70, for a total value of $48,353.10. Following the transaction, the chief executive officer now directly owns 1,252,230 shares of the company’s stock, valued at $2,128,791. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Wag! Group news, CEO Garrett Smallwood sold 28,443 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $1.70, for a total value of $48,353.10. Following the sale, the chief executive officer now owns 1,252,230 shares in the company, valued at approximately $2,128,791. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Maziar Arjomand sold 22,854 shares of Wag! Group stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $1.70, for a total transaction of $38,851.80. Following the completion of the sale, the chief technology officer now owns 1,167,928 shares in the company, valued at $1,985,477.60. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 96,700 shares of company stock worth $138,889 and have sold 323,584 shares worth $539,268. Corporate insiders own 23.20% of the company’s stock.

Institutional Investors Weigh In On Wag! Group

A number of institutional investors have recently made changes to their positions in the company. SVB Wealth LLC raised its position in shares of Wag! Group by 100.0% in the fourth quarter. SVB Wealth LLC now owns 140,000 shares of the company’s stock valued at $245,000 after buying an additional 70,000 shares in the last quarter. Cerity Partners LLC acquired a new position in Wag! Group in the 4th quarter valued at $40,000. Finally, Cowen AND Company LLC bought a new stake in shares of Wag! Group during the 2nd quarter valued at $72,000. Institutional investors own 86.16% of the company’s stock.

Wag! Group Company Profile

Wag! Group Co develops and supports a proprietary marketplace technology platform available as a website and mobile app that enables independent pet caregivers to connect with pet parents. Its platform allows pet parents, who require specific pet care services, such as dog walking, pet sitting and boarding, advice from licensed pet experts, home visits, training, and pet insurance comparison tools.