What's Going On With Dutch Bros Stock After Earnings?
Portfolio Pulse from Erica Kollmann
Dutch Bros Inc. (NYSE:BROS) shares are falling after the company reported its second-quarter results. Despite beating analyst expectations on the top and bottom lines, the company issued full-year revenue guidance below the consensus estimate. Analysts have adjusted their price targets, with Baird lowering from $42 to $37 and TD Cowen from $50 to $47. The stock is down 20.6% at $29.92, trading well below its 50-day moving average of $38.98.
August 08, 2024 | 4:25 pm
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Dutch Bros Inc. shares are down 20.6% after the company reported Q2 results that beat expectations but issued full-year revenue guidance below consensus. Analysts have adjusted their price targets downward.
The stock is reacting negatively to the lower-than-expected full-year revenue guidance despite beating Q2 expectations. Analysts have also lowered their price targets, contributing to the downward pressure on the stock.
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