Shares of Bowlero Corp (BOWL) surged by 12.84% in premarket trading on September 6, 2024, driven by the company's fiscal fourth-quarter earnings report and positive analyst commentary.
In its Q4 2024 results, Bowlero reported an 18.6% year-over-year increase in revenue to $283.87 million, exceeding analysts' expectations of $274.44 million. While the company reported a quarterly net loss of $62.18 million or $0.43 per share, the solid revenue growth and continued expansion plans appear to have bolstered investor confidence.
Following the earnings release, several analysts reiterated their "Buy" ratings on Bowlero stock, citing the company's promising growth prospects and strategic initiatives. Analysts at B.Riley Financial, Canaccord Genuity, and Stifel Nicolaus all maintained their bullish stance on the stock, with price targets ranging from $16 to $17 per share.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.