Craig Hallum slashes price target on Bowlero Corp. [BOWL] – find out why.

Bowlero Corp. [NYSE: BOWL] stock went on an upward path that rose over 4.40% on Thursday, amounting to a one-week price increase of more than 6.00%. The company report on February 24, 2023 that Bowlero Corp. Completes Acquisition in New Jersey.

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Bowlero Corp., (NYSE: BOWL) the global leader in bowling entertainment, completed the acquisition of The Big Event in New Jersey on February 14th. This announcement marks the Company’s first completed acquisition in calendar year 2023, out of a robust pipeline of remaining acquisitions.

Brett Parker, President & Chief Financial Officer of Bowlero Corp., stated, “Today’s announcement illustrates our continued commitment to expanding our unit base and simultaneously improving our average unit volumes.”.

Over the last 12 months, BOWL stock rose by 64.43%. The one-year Bowlero Corp. stock forecast points to a potential upside of 13.4. The average equity rating for BOWL stock is currently 1.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.61 billion, with 162.48 million shares outstanding and 101.07 million shares in the current float. Compared to the average trading volume of 943.18K shares, BOWL stock reached a trading volume of 5403831 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Bowlero Corp. [BOWL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BOWL shares is $18.36 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BOWL stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Craig Hallum have made an estimate for Bowlero Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 24, 2023. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on October 04, 2022, representing the official price target for Bowlero Corp. stock. Previously, the target price had yet another raise to $17, while JP Morgan analysts kept a Overweight rating on BOWL stock.

The Average True Range (ATR) for Bowlero Corp. is set at 0.62, with the Price to Sales ratio for BOWL stock in the period of the last 12 months amounting to 2.54. Price to Free Cash Flow for BOWL in the course of the last twelve months was 24.79 with Quick ratio for the last quarter at 0.90.

BOWL Stock Performance Analysis:

Bowlero Corp. [BOWL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.00. With this latest performance, BOWL shares gained by 15.64% in over the last four-week period, additionally plugging by 36.36% over the last 6 months – not to mention a rise of 64.43% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BOWL stock in for the last two-week period is set at 66.59, with the RSI for the last a single of trading hit 70.11, and the three-weeks RSI is set at 63.84 for Bowlero Corp. [BOWL]. The present Moving Average for the last 50 days of trading for this stock 14.06, while it was recorded at 15.41 for the last single week of trading, and 12.67 for the last 200 days.

Insight into Bowlero Corp. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Bowlero Corp. [BOWL] shares currently have an operating margin of +13.45 and a Gross Margin at +33.71. Bowlero Corp.’s Net Margin is presently recorded at -3.28.

Return on Equity for this stock declined to -11.46, with Return on Assets sitting at -1.56.

Bowlero Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.00.

Bowlero Corp. [BOWL] Insider Position Details

There are presently around $1,705 million, or 98.30% of BOWL stock, in the hands of institutional investors. The top three institutional holders of BOWL stocks are: ATAIROS GROUP, INC. with ownership of 63,425,788, which is approximately 0% of the company’s market cap and around 2.10% of the total institutional ownership; SOROS FUND MANAGEMENT LLC, holding 8,154,303 shares of the stock with an approximate value of $129.65 million in BOWL stocks shares; and FMR LLC, currently with $59.35 million in BOWL stock with ownership of nearly 714.223% of the company’s market capitalization.

Positions in Bowlero Corp. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 59 institutional holders increased their position in Bowlero Corp. [NYSE:BOWL] by around 7,790,373 shares. Additionally, 65 investors decreased positions by around 7,915,573 shares, while 7 investors held positions by with 91,503,627 shares. The mentioned changes placed institutional holdings at 107,209,573 shares, according to the latest SEC report filing. BOWL stock had 29 new institutional investments in for a total of 2,856,035 shares, while 16 institutional investors sold positions of 831,875 shares during the same period.


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