Dave & Buster's Analysts Cut Their Forecasts After Q2 Results
Portfolio Pulse from Lisa Levin
Dave & Buster's Entertainment Inc (NASDAQ:PLAY) reported weaker-than-expected Q2 sales of $542.10 million, missing the consensus estimate of $559.00 million. However, it beat earnings per share estimates by a cent. Following the announcement, the company's shares dipped 6%. Analysts from Raymond James, BMO Capital, and Truist Securities have subsequently lowered their price targets for the company.
September 07, 2023 | 3:09 pm
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Dave & Buster's missed Q2 sales estimates but beat earnings per share estimates. Its shares fell 6% and analysts have lowered their price targets.
The company's weaker-than-expected Q2 sales and the subsequent lowering of price targets by analysts are likely to negatively impact the short-term performance of its stock. The 6% dip in shares following the earnings announcement is indicative of this.
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