As of January 16, 2024, the analyst ratings for Driven Brands Holdings (NASDAQ: DRVN) present a diverse range of opinions. Over the past three months, four analysts have provided ratings, with two expressing a somewhat bullish outlook, two remaining indifferent, and none leaning towards bullish or somewhat bearish sentiments. Within the last 30 days, only one analyst maintained an indifferent rating.
When considering the 12-month price targets evaluated by analysts, the average target stands at $19.0, with a high estimate of $22.00 and a low estimate of $14.00. It is worth noting that analysts have recently reduced the average price target by 15.56%.
In the previous month, DRVN received ten Buy Ratings, one Hold Rating, and zero Sell Ratings. The average analyst price target currently sits at $20.22, suggesting a potential upside of 47.33% based on the average price target.
The most recent actions taken by analysts include Simeon Gutman of Morgan Stanley lowering the equal-weight rating from $22.00 to $14.00, Peter Keith of Piper Sandler reducing the overweight rating from $23.00 to $22.00, and Kate McShane of Goldman Sachs lowering the neutral rating from $21.00 to $18.00.
Taking into account twelve ratings, the average price target amounts to $21.36, accompanied by a consensus overweight rating. At present, the stock price stands at $11.81.
In conclusion, the analyst ratings for Driven Brands Holdings exhibit a range of perspectives, with a slight shift towards negativity evident in the decrease of the average price target. When considering these ratings, it is crucial to assess them in relation to your individual investment goals and risk tolerance.
DRVN Stock Experiences Downward Trend, Trading Near Bottom of 52-Week Range
On January 16, 2024, DRVN stock experienced a downward trend, trading near the bottom of its 52-week range and below its 200-day simple moving average. The price of DRVN shares decreased by $0.20 since the market last closed, resulting in a 1.51% drop. The stock opened at $12.93, which was $0.32 lower than its previous close. Trading near the bottom of its 52-week range and below its 200-day simple moving average is a significant indicator of bearish sentiment. When a stock trades below its 200-day simple moving average, it is often seen as a bearish signal by technical analysts. Investors should closely monitor the price momentum of DRVN stock to determine whether the downward trend will continue or if there are any signs of a potential reversal.
DRVN Stock: Mixed Performances Reflect Positive and Negative Trends in Financials
On January 16, 2024, DRVN stock experienced mixed performances, reflecting both positive and negative trends in its financials. According to data from CNN Money, DRVN’s total revenue for the past year stood at $2.03 billion, representing a significant increase of 38.57% compared to the previous year. However, when compared to the previous quarter, total revenue decreased by 4.25% to $581.03 million. The company’s net income for the past year was $42.27 million, reflecting a substantial increase of 348.53% compared to the previous year. However, in the most recent quarter, DRVN reported a net loss of -$782.64 million, indicating a significant decline of 2217.82% compared to the previous quarter. Earnings per share (EPS) for the past year were $0.25, showing a remarkable increase of 351.33% compared to the previous year. However, in the most recent quarter, DRVN reported a negative EPS of -$4.82, representing a substantial decrease of 2270.86% compared to the previous quarter. These figures suggest that DRVN has experienced both positive and negative trends in its financial performance. The significant increase in total revenue over the past year demonstrates the company’s ability to generate more sales. However, the decrease in revenue from the previous quarter indicates a potential slowdown in business operations. Similarly, while the net income has shown a significant increase over the past year, the net loss in the most recent quarter raises concerns about the company’s profitability. The EPS figures also reflect a mixed performance. The substantial increase in EPS over the past year suggests that the company has been able to generate more earnings per share for its shareholders. However, the negative EPS in the most recent quarter indicates a decline in profitability, potentially affecting investor sentiment. Investors and analysts will closely monitor DRVN’s financial performance to determine the underlying factors contributing to these fluctuations. Factors such as market conditions, competition, and internal operational challenges may have influenced the stock’s performance on January 16, 2024. It is important to note that stock performance is subject to various external factors and can be highly volatile. Investors should conduct thorough research and analysis before making any investment decisions.
