1-800-Flowers.com Stock Wilts as Analyst Calls Out 'Anemic' Everyday Gifting
1-800-FLOWERS.COM(FLWS) Investopedia·2024-07-18 01:36
Key Takeaways 1-800-Flowers.com (FLWS) shares sank in intraday trading Wednesday after D.A. Davidson downgraded the company's stock to "underperform" from "neutral" and lowered its price target. D.A. Davidson, which lowered its price target to $8 from $9, pointed to Bloomberg debit card data—which is 94% correlated to sales, according to the note—indicating a 15% year-over-year drop in the fourth quarter. "Consumers have tended to show up more on the big gift-giving holidays like Mother's Day, but FLWS' eve ...