Funko Is A 'Buy' On This Weakness, Says This Analyst

by Shivani Kumaresan, Benzinga Staff Writer

August 5, 2022 3:59 PM | 1 min read | Make a Comment

DA Davidson analyst Linda Bolton Weiser reiterated its Buy rating on Funko Inc FNKO and lowered the price target to $48 from $50.
The analyst said the company had reported a bigger-than-expected gross margin decline in 2Q22.
Weiser said Funko’s new product launches, expanded NFT offerings, and distribution gains abroad should make it fairly resilient in a recession.
The company reported a 640 basis points decline in 2Q gross margin to 32.7%.
Price Action: FNKO shares are trading lower by 18% at $21.88 on the last check Friday.