Wag! Group (NASDAQ:PET) Coverage Initiated by Analysts at Lake Street Capital

Lake Street Capital initiated coverage on shares of Wag! Group (NASDAQ:PETFree Report) in a report published on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $4.00 price objective on the stock.

PET has been the topic of several other research reports. Chardan Capital restated a buy rating and set a $8.00 price objective on shares of Wag! Group in a report on Friday, May 10th. DA Davidson cut their price objective on shares of Wag! Group from $6.00 to $3.50 and set a buy rating on the stock in a report on Thursday, May 16th.

Check Out Our Latest Research Report on Wag! Group

Wag! Group Stock Performance

PET stock opened at $1.55 on Thursday. The firm has a market cap of $62.96 million, a price-to-earnings ratio of -4.31 and a beta of 2.01. The firm has a 50-day simple moving average of $2.04 and a two-hundred day simple moving average of $1.93. Wag! Group has a one year low of $1.45 and a one year high of $2.65. The company has a debt-to-equity ratio of 15.59, a quick ratio of 1.33 and a current ratio of 1.33.

Wag! Group (NASDAQ:PETGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.03. The business had revenue of $23.22 million during the quarter, compared to analyst estimates of $22.60 million. Wag! Group had a negative net margin of 15.92% and a negative return on equity of 553.34%. On average, equities analysts forecast that Wag! Group will post -0.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Maziar Arjomand sold 13,219 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1.94, for a total value of $25,644.86. Following the transaction, the chief technology officer now owns 963,853 shares in the company, valued at approximately $1,869,874.82. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CTO Maziar Arjomand sold 13,219 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1.94, for a total transaction of $25,644.86. Following the sale, the chief technology officer now owns 963,853 shares of the company’s stock, valued at approximately $1,869,874.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Garrett Smallwood sold 28,443 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $1.70, for a total transaction of $48,353.10. Following the completion of the transaction, the chief executive officer now owns 1,252,230 shares of the company’s stock, valued at $2,128,791. The disclosure for this sale can be found here. In the last quarter, insiders have sold 293,491 shares of company stock worth $546,903. 23.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wag! Group

Hedge funds have recently bought and sold shares of the business. Cerity Partners LLC purchased a new position in shares of Wag! Group during the 4th quarter valued at approximately $40,000. ATW Spac Management LLC purchased a new stake in shares of Wag! Group during the third quarter worth about $117,000. StepStone Group LP acquired a new position in shares of Wag! Group during the 3rd quarter worth about $225,000. Finally, SVB Wealth LLC lifted its stake in Wag! Group by 100.0% in the 4th quarter. SVB Wealth LLC now owns 140,000 shares of the company’s stock valued at $245,000 after buying an additional 70,000 shares in the last quarter. Hedge funds and other institutional investors own 86.16% of the company’s stock.

Wag! Group Company Profile

(Get Free Report)

Wag! Group Co develops and supports a proprietary marketplace technology platform available as a website and mobile app that enables independent pet caregivers to connect with pet parents. Its platform allows pet parents, who require specific pet care services, such as dog walking, pet sitting and boarding, advice from licensed pet experts, home visits, training, and pet insurance comparison tools.

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