|Over a week ago|
PetMed Express initiated with an Underweight at Morgan Stanley » 08:3711/1811/18/21
Morgan Stanley analyst…
Morgan Stanley analyst Erin Wright initiated coverage of PetMed Express with an Underweight rating and $25 price target. The company is highly levered to favorable underlying pet health demand and growing adoption of alternative mail-order pharmacy concepts, but will continue to face challenges in an increasingly competitive landscape, Wright tells investors.
|Over a month ago|
Fly Intel: After-Hours Movers » 18:4010/2510/25/21
UNFI, HSII, TNET, CR, MEDP, PKG, IPAR, FB, AMKR, TBI, PETS, UHS, RNR, CDNS, CLAR
Check out this evening's…
PetMed Express reports Q2 EPS 31c, consensus 34c » 18:3710/2510/25/21
Reports Q2 revenue…
Reports Q2 revenue $67.4M, consensus $72.45M. "PetMeds has been a pioneer in the business of pet health and wellness for over 25 years, and it's time to take the next step towards expanding our business in the $10 billion pet medication market and to begin our foray into the much larger $107 billion total pet care market," said Matt Hulett, CEO. "As one example, during the quarter we recently launched our "AutoShip and Save" program which allows us to build a greater lifetime value and recurring relationships with our customers. The team and I are looking forward to leveraging PetMeds' many assets in a variety of other new opportunity areas as we elevate our growth prospects for the future."
PetMed Express options imply 12.2% move in share price post-earnings » 13:4910/2510/25/21
Pre-earnings options volume in PetMed Express is 4.4x normal with calls leading puts 15:2. Implied volatility suggests the market is anticipating a move near 12.2%, or $3.41, after results are released. Median move over the past eight quarters is 5.3%.
PetMed Express initiated with a Hold at Jefferies » 16:3809/3009/30/21
Jefferies analyst Stephanie Wissink initiated coverage of PetMed Express with a Hold rating and $28 price target. The analyst sees the company returning to face "historical challenges" such as intensifying competition following a "temporary" COVID boost. Wissink adds that for PetMed Express multiple to see upside, its growth will need to accelerate. The analyst further states that investors await the new CEO's strategic vision.
PetMed Express initiated with a Hold at Jefferies » 16:2909/3009/30/21
Jefferies analyst Stephanie Wissink initiated coverage of PetMed Express with a Hold rating and $28 price target.
|Over a quarter ago|
PetMed Express appoints Matt Hulett as CEO, President, member of board » 08:1308/3108/31/21
PetMed Express announced…
PetMed Express announced the appointment of Matt Hulett as its Chief Executive Officer and President, and member of the Board of Directors. Hulett has 30 years of experience with building consumer companies and was previously President of Rosetta Stone.
PetMed Express assumed with an Underperform at Credit Suisse » 16:2608/0408/04/21
Credit Suisse analyst…
Credit Suisse analyst Katie Tryhane assumed coverage of PetMed Express with an Underperform rating and $22 price target. The analyst made no changes to the firm's rating, target price or estimates at this time.
PetMed Express appoints Jodi Watson, Peter Cobb to board of directors » 08:0408/0208/02/21
PetMed Express reports…
PetMed Express reports that Jodi Watson and Peter Cobb have been elected to the PetMed Express, Inc. Board of Directors as new independent directors. Watson has held global leadership roles with companies such as Petco, Wolverine Worldwide, Pottery Barn, Williams-Sonoma and Eddie Bauer. She currently works as a CMO, board member and consultant with private equity, venture capital, start-ups and publicly traded companies. Ms. Watson will serve on the PetMed Express, Inc. Audit Committee, Compensation Committee, and Corporate Governance and Nominating Committee. Cobb co-founded eBags.com which launched in 1999 and was acquired by Samsonite in 2017. Cobb will also serve on the PetMed Express, Inc. Audit Committee, Compensation Committee, and Corporate Governance and Nominating Committee.
PetMed Express reports Q2 EPS 22c, two est. 36c » 08:2807/2607/26/21
Reports Q2 revenue…
Reports Q2 revenue $79.3M, two est. $86.58M. Mendo Akdag, the Company's CEO, commented: "In our first quarter of FY 2022, we faced a unique situation. We were coming off a very strong quarter the previous year that was primarily driven by increased online buying as a result of the pandemic causing many stores to close and many vets to be unavailable. As a result, in the first quarter of FY 2021 consumers increasingly relied on ecommerce. However, during the most recent quarter while the pandemic was abating and stores were re-opening, the advertising market was rapidly recovering with demand driving up ad prices dramatically. As a result, our advertising spending delivered fewer ad impressions than in prior years. Because of this, we believe our advertising spending was less effective in the most recent quarter in its ability to attract new customers. Ad prices may revert back to more normal levels as the pandemic further subsides which may increase the efficiency and effectiveness of our media spending and thereby continue to help us gain new customers. In addition, during the most recent quarter there was a dramatic increase in veterinary visits by consumers who were unable to visit their veterinarians during the pandemic. We believe the increase in veterinary visits was primarily due to pet owners needing to visit their veterinarians for their pets' annual exam and to renew their prescriptions. Since some pet owners purchase medications directly from their vets during their veterinary visit, the Company believes this negatively impacted its sales during the quarter. We would expect to see stronger reorder sales in the back half of FY 2022, as we anticipate more prescriptions being renewed."