- JMP Securities analyst Andrew Boone reiterated a Market Outperform rating on the shares of Rover Group Inc (NASDAQ:ROVR) with a price target of $8.00.
- The analyst expected Rover to report third-quarter FY22 top and bottom-line results above consensus.
- Boone said TSA passenger Y/Y growth accelerated in August and September, while desktop direct visits growth also accelerated in August and September. This makes the analyst assume that Rover can raise 4Q22 guidance.
- He believes Rover has multiple long-term secular tailwinds as pet ownership is at all-time highs, people spend more on pet services, and international penetration continues to grow.
- Through Boone’s data model, which is based on direct desktop traffic and TSA passengers boarded, he estimates bookings of about 1,525 in Q3.
- Rover’s disciplined marketing spend combined with bookings outperformance, can lead to better-than-expected EBITDA.
- Rover’s leading market share, its growth opportunities with new services and international expansion, and healthy cohort retention and repeat booking rates justify the analyst’s price target and multiple.
- Price Action: ROVR shares are trading lower by 1.00% at $3.98 on the last check Tuesday.
AI Study: Synthetic Cannabinoid + Favipiravir Presents Viable Treatment Against Viral Infections, Including COVID
Tetra Bio-Pharma Inc. (OTCQB: TBPMF) (TSX:TBP) (FRA:JAM1), announced results from the study of Onternabez combined with Favipiravir against ARDS (acute respiratory distress syndrome), sepsis, and COVID-19 through PREPAiRE, an AI
