BARK up on forecast raise, Q2 results beat

Bark

10/11/2022 12:57

** Pet retailer Bark Inc's  BARK.N  shares up 7% at $1.75
premarket 
    ** Co reports better-than-expected Q2 revenue and a
smaller-than-expected loss compared with Refinitiv IBES
estimates
    ** Credits strong performance to more premium subscribers in
food and dental categories 
    ** Notes that many retail partners ordered holiday products
ahead of schedule 
    ** Co revises FY23 outlook for core earnings to a loss of
$31 mln from a loss of $33 mln forecast earlier
    ** Brokerage Canaccord Genuity cuts PT to $5 from $8 on
likely macro headwinds
    ** Both brokerages on Refinitiv rate the stock "strong buy";
their median PT is $6.5
    ** Up to Wednesday's close, stock had fallen 61.1% compared
with a 15% decline in the NYSE Composite index  .NYA 
 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))