Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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However, the brokerage remains on the sidelines, citing gross margin pressures.
"[I]ncreasing price transparency, expanding couponing, channel conflict, channel mix shift and free shipping offers will continue to weigh on gross margins until the competitive environment settles, making the medium-term profit trajectory unclear," analyst Seth Basham said.
Basham expects the gross margin figures to have fallen less than the previous year's figure, as long as the company meets guidance. Further, the analyst noted that sales may benefit from "improving industry trends, planned lower free shipping thresholds and new online merchandise categories."
"We further believe that the company's strong cash flows and balance sheet, awareness and adaptation to shifting consumer shipping behavior, and disciplined deductive management processes, led by tenured CEO Steve Temares, point to long-term staying power," Basham said.
Shares of Bed Bath & Beyond closed Monday's regular trading at $45.05 and were trading at $44.16, down 1.98 percent on Tuesday at time of writing. Basham has a price target of $42.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.