Shares of Bowlero Corp (BOWL) surged by 12.84% in premarket trading on September 6, 2024, driven by the company's fiscal fourth-quarter earnings report and positive analyst commentary.
In its Q4 2024 results, Bowlero reported an 18.6% year-over-year increase in revenue to $283.87 million, exceeding analysts' expectations of $274.44 million. While the company reported a quarterly net loss of $62.18 million or $0.43 per share, the solid revenue growth and continued expansion plans appear to have bolstered investor confidence.
Following the earnings release, several analysts reiterated their "Buy" ratings on Bowlero stock, citing the company's promising growth prospects and strategic initiatives. Analysts at B.Riley Financial, Canaccord Genuity, and Stifel Nicolaus all maintained their bullish stance on the stock, with price targets ranging from $16 to $17 per share.
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