Needham & Company Sets Petsmart Price Target at $68.00 (PETM)
Research analysts at Needham & Company increased their target price on shares of Petsmart (NASDAQ: PETM) from $64.00 to $68.00 in a report released on Wednesday. The firm currently has a “buy” rating on the stock.
Petsmart opened at 62.92 on Wednesday. Petsmart has a 52-week low of $37.76 and a 52-week high of $63.19. The company has a market cap of $6.854 billion and a price-to-earnings ratio of 22.58.
Petsmart last posted its quarterly earnings results on Tuesday, May 22nd. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.12. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts expect that Petsmart will post $0.61 EPS next quarter.
PETM has been the subject of a number of other recent research reports. Analysts at Nomura (NYSE: NMR) reiterated a “buy” rating on shares of Petsmart in a research note to investors on Thursday, May 10th. Separately, analysts at Bank of America (NYSE: BAC) raised their price target on shares of Petsmart from $60.00 to $65.00 in a research note to investors on Thursday, May 3rd. They now have a “buy” rating on the stock. Finally, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of Petsmart from $58.00 to $60.00 in a research note to investors on Monday, April 9th. They now have an “equal weight” rating on the stock.
PetSmart, Inc. (PetSmart) is a specialty provider of products, services and solutions for the lifetime needs of pets.