Tuesday, January 18, 2011 8:46:37 AM
By Roger Nachman
Benzinga Staff Writer
January 11, 2011 7:37 AM
Symbols: PETS
Tags: Piper Jaffray
Posted in: Analyst Color, Price Target, Analyst Ratings
Email ArticlePrint Article
Piper Jaffray has an Underweight rating and a $12.50 price target on shares of PetMed Express (NASDAQ: PETS).
In a note sent to clients, Piper Jaffray writes, "Online web traffic data from comScore suggests that site visits for the month of December at PETS was down 26% yoy, which follows similarly disappointing trends noted in October (down 30% yoy) and November (down 36% yoy). In aggregate, we believe that 4Q10 web traffic was down 31% relative to year-ago levels, which supports our cautious outlook ahead of the company's FQ3 results expected later this month. We believe that concerns related to increased competition and aggressive pricing discounts outweigh the company's positive capital position and strong cash flows. We reiterate our Underweight rating and $12.50 price target on PETS and believe that further downward revisions to
consensus estimates are likely following the company's earnings release, particularly for FY12."
Shares of PETS closed at $15.78 yesterday.
Read more: http://www.benzinga.com/analyst-ratings/analyst-color/11/01/768992/piper-jaffray-underweight-on-petmed-express-pets#ixzz1BOW2xnj6
Recent PETS News
- PetMeds® Announces Fiscal 2024 Third Quarter Financial Results and Completion of Financial Restatement • GlobeNewswire Inc. • 04/15/2024 12:16:00 PM
- PetMeds® to Give Away Free Pet Food for a Year to Three Lucky Pet Owners and $1,000 in PetMeds® Credits to Three Local Animal Shelters • GlobeNewswire Inc. • 02/16/2024 01:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/15/2024 04:20:05 PM
- PetMed Express Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q • GlobeNewswire Inc. • 02/15/2024 01:30:00 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 02/09/2024 09:23:01 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/08/2024 09:03:56 PM
- PetMeds® Announces Selected Preliminary Third Quarter Financial Results • GlobeNewswire Inc. • 02/08/2024 09:01:00 PM
- PetMed Express, Inc. Sets Fiscal Third Quarter 2024 Earnings Call • GlobeNewswire Inc. • 01/29/2024 01:30:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/25/2024 09:59:33 PM
- PetMeds® Announces new Chairman of the Board • PR Newswire (US) • 01/08/2024 10:46:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/08/2024 09:04:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/12/2023 09:55:12 PM
- Both Pets and Pet Parents Feel the Strain of Separation Anxiety When Apart, According to a New Survey from PetMeds® • PR Newswire (US) • 11/27/2023 05:26:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/13/2023 04:52:42 PM
- PetMeds® Announces the Formation of Veterinarian Advisory Board • PR Newswire (US) • 11/13/2023 03:40:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/07/2023 07:17:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/07/2023 07:10:17 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 10/31/2023 08:27:59 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/30/2023 08:05:51 PM
- PetMeds® Announces Its Second Quarter Financial Results • PR Newswire (US) • 10/30/2023 08:01:00 PM
- PetMed Express, Inc. Sets Fiscal Second Quarter 2024 Earnings Call • GlobeNewswire Inc. • 10/19/2023 12:30:00 PM
- PetMeds® Teams Up with Pumpkin® to Help Make Pet Care Simple and Affordable • PR Newswire (US) • 10/12/2023 10:20:00 PM
- PetMed Express Announces Upcoming Conference Participation • GlobeNewswire Inc. • 09/07/2023 08:01:00 PM
- Janover Inc. Appoints Finance Veteran Bruce S. Rosenbloom, CPA as its Chief Financial Officer • GlobeNewswire Inc. • 09/07/2023 11:30:00 AM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 08/30/2023 09:07:22 PM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM
Avant Technologies Launches Advanced AI Supercomputing Network and Expansive Data Solutions • AVAI • Apr 23, 2024 8:00 AM
BestGrowthStocks.com Issues Comprehensive Analysis of Triller Merger with AGBA Group Holding Limited • AGBA • Apr 22, 2024 1:00 PM
Cannabix Technologies to Present Marijuana Breathalyzer Technology at International Association for Chemical Testing (IACT) Conference in California • BLO • Apr 22, 2024 8:49 AM