Freshpet Stock (NASDAQ:FRPT), Trade Ideas

Freshpet

Freshpet produces and sells premium fresh pet food through its company-owned refrigerators placed in grocery, mass and club, pet specialty, and natural stores. The former two store types accounted for 89% of 2023 sales, with grocery stores representing the primary driver of footprint growth. Freshpet primarily targets dogs (92% of 2022 sales), with cats and treats comprising the rest of its sales. Geographically, the company's home US market, where all its food is produced, accounts for about 96% of sales, with exports to Canada, the United Kingdom, and other European countries accounting for the remaining balance.

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Wall Street exhibited a subdued trend to start the week, with major indices showing little change in midday trading out of New York. 



Investors anticipate a stream of critical economic data expected in the days ahead.

US Stocks Pause, Alphabet Falls On Gemini Woes, Tesla, Bitcoin Rally: What&#39;s Driving Markets Monday?

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Shares of  Freshpet, Inc. (NASDAQ: FRPT) gained 15.5% to $106.29 after the company reported better-than-expected fourth-quarter financial results.

Why Freshpet Shares Are Trading Higher By Around 15%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

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Earnings

Guidance

Freshpet reported strong Q4 sales growth of 29.9%, exceeding expectations. 2024 outlook includes continued margin improvement and growth.

Why Is Freshpet Stock Rocketing Today?

Freshpet Inc

Stifel analyst Mark Astrachan maintains Freshpet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) with a Buy and raises the price target from $115 to $135.

Price Target

Stifel Maintains Buy on Freshpet, Raises Price Target to $135

DA Davidson analyst Brian Holland maintains Freshpet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) with a Buy and raises the price target from $104 to $138.

DA Davidson Maintains Buy on Freshpet, Raises Price Target to $138

Truist Securities analyst Bill Chappell upgrades Freshpet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) from Hold to Buy and raises the price target from $120 to $135.

Upgrades

Truist Securities Upgrades Freshpet to Buy, Raises Price Target to $135

JP Morgan analyst Ken Goldman maintains Freshpet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) with a Neutral and raises the price target from $67 to $102.

JP Morgan Maintains Neutral on Freshpet, Raises Price Target to $102

Piper Sandler analyst Michael Lavery maintains Freshpet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) with a Overweight and raises the price target from $100 to $130.

Piper Sandler Maintains Overweight on Freshpet, Raises Price Target to $130

Truist Securities analyst Bill Chappell maintains Freshpet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) with a Hold and raises the price target from $70 to $120.

Truist Securities Maintains Hold on Freshpet, Raises Price Target to $120

Wall Street exhibited a subdued trend to start the week, with major indices showing little change in midday trading out of New York. 
Investors anticipate a stream of critical economic data expected<a href="https://www.benzinga.com/calendars/economic"> in the days ahead.</a>
The S&amp;P 500 saw a marginal downtick, slipping by 0.2% to 5,080 points, reflecting a market holding its breath for clearer signals. Meanwhile, the tech-heavy Nasdaq 100 found some footing, inching up by 0.2%, bolstered by a notable performance from the semiconductor sector.
Small-cap stocks emerged as the standout segment, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) surging by 0.3%. The performance of blue-chip stocks remained largely unchanged. 
Yields on Treasury securities trended upward across various maturities as traders continued to scale back expectations for Federal Reserve rate cuts. Projections have been pared down to a mere 80 basis points of reductions for 2024, translating into just over three full rate cuts currently factored in.
The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) retreated by 0.7%, while the greenback held steady. The precious metals sector experienced a downturn, with gold declining by 0.3% and silver shedding 2% of its value.
Crude oil demonstrated resilience, with West Texas Intermediate (WTI) crude oil climbing by 1.8% to $78 per barrel, almost recouping all the losses incurred last Friday.
In the cryptocurrency space, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) exhibited strength, accruing a 3.5% gain to surpass the $53,000 mark, signaling a robust start to the week for digital assets.
<h2 class="wp-block-heading">Monday&#8217;s Performance In Major Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-Day %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,030.56</td>
<td>0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,965.88</td>
<td>0.2%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,101.57</td>
<td>-0.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,080.81</td>
<td>-0.2%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was 0.2% lower to $507.17, the SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 0.1% to $391.08 and the tech-heavy Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% up to $437.56, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>. 
The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>), was the notable underperformer, down by 1.7%, while the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was the top gainer, up 1.7%. 
<h3 class="wp-block-heading">Wall Street Stock Movers On Monday</h3>
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) surged by nearly 4% amid a broader EV rally, buoyed by positive investor sentiment following Li Auto Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) stellar quarterly results. Peers such as Nio Inc. &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NASDAQ">NIO</a>), Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), and Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) also saw gains, rising 3.4%, 5.7%, and 2%, respectively.</li>
<li>Crypto-related stocks Marathon Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and Riot Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) rose by 20%, 14% and 15%, respectively, as Bitcoin surged to $53,000. </li>
<li>Palo Alto Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) rose nearly 10%, marking the strongest performance among S&amp;P 500 and Nasdaq 100. </li>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) fell 4% after analysts warned about some Gemini AI tool inaccuracies over image generation. </li>
<li>R1 RCM Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCM#NASDAQ">RCM</a>) rallied 28% as a group of majority shareholders considered taking the healthcare services provider private. </li>
<li>Freshpet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) rose 17% following after the company announced better-than-expected results. </li>
<li>Other companies reacting to earnings were Dominos Pizza Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>), up over 5%; Fidelity National Information Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>), up 3%; Pilgrim&#8217;s Pride Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPC#NYSE">PPC</a>), up 7%; Itron Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITRI#NASDAQ">ITRI</a>), up over 20% and Public Service Enterprise Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEG#NYSE">PEG</a>), down 1.9%. </li>
<li>Companies reporting after the close are Workday Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>), ONEOK Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Zoom Video Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) and SBA Communications Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBAC#NASDAQ">SBAC</a>). </li>
</ul>
Read Now: <a href="https://www.benzinga.com/markets/equities/24/02/37317629/carvana-stock-trades-like-an-ai-darling-short-seller-says-but-paint-will-eventually-peel-off">Carvana Stock Trades Like &#8216;An AI Darling,&#8217; Short Seller Says: But &#8216;Paint Will Eventually Peel Off&#8217;</a>
Photo: Shutterstock

US Stocks Pause, Alphabet Falls On Gemini Woes, Tesla, Bitcoin Rally: What's Driving Markets Monday?

Shares of Freshpet, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frpt#NASDAQ">FRPT</a>) gained 15.5% to $106.29 after the company reported better-than-expected fourth-quarter financial results.
Freshpet posted quarterly earnings of 31 cents per share, beating market estimates of 5 cents per share. The company&rsquo;s quarterly sales came in at $215.42 million versus expectations of $204.36 million.
Freshpet shares gained 15.5% to $106.29 on Monday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Akili, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/akli#NASDAQ">AKLI</a>) shares jumped 126% to $0.5009 after the company reported positive results from Shionogi&#39;s Phase 3 clinical trial of localized version of Akili&#39;s EndeavorRx&reg; for Pediatric ADHD patients in Japan.</li>
<li>ZyVersa Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zvsa#NASDAQ">ZVSA</a>) climbed 126% to $1.81 after surging over 30% on Friday.</li>
<li>MicroCloud Hologram Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holo#NASDAQ">HOLO</a>) gained 107% to $13.71 after tumbling 40% on Friday.</li>
<li>Neptune Wellness Solutions Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nept#NASDAQ">NEPT</a>) rose 54.6% to $0.49.</li>
<li>Interactive Strength Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trnr#NASDAQ">TRNR</a>) surged 32.2% to $0.8701 after the company announced it has entered into an exclusive worldwide distribution agreement with WOODWAY to sell and distribute CLMBR.</li>
<li>Agiliti, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/agti#NASDAQ">AGTI</a>) gained 29.4% to $9.89 after the company announced it will be taken private by THL Partners.</li>
<li>Krystal Biotech, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/krys#NASDAQ">KRYS</a>) surged 28.8% to $143.34 after the company reported better-than-expected financial results.</li>
<li>R1 RCM Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rcm#NYSE">RCM</a>) surged 26.7% to $14.06 after the company received an acquisition offer for the company valued at $13.75 per share.</li>
<li>Butterfly Network, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bfly#NASDAQ">BFLY</a>) gained 26.3% to $1.2880.</li>
<li>Altimmune, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alt#NASDAQ">ALT</a>) surged 22.1% to $11.24.</li>
<li>Milestone Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mist#NASDAQ">MIST</a>) gained 21.3% to $2.10 after the company announced plans to resubmit the New Drug Application (NDA) for etripamil to the U.S. Food and Drug Administration (FDA) for paroxysmal supraventricular tachycardia (PSVT).</li>
<li>Ocugen, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ocgn#NASDAQ">OCGN</a>) climbed 18.9% to $0.9451.</li>
<li>ImmunityBio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ibrx#NASDAQ">IBRX</a>) gained 18% to $ 4.1250.</li>
<li>Li Auto Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/li#NASDAQ">LI</a>) rose 16.2% to $40.44 after the company reported fourth-quarter financial results above estimates and issued first-quarter guidance.</li>
<li>Nuwellis, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nuwe#NASDAQ">NUWE</a>) shares rose 16.1% to $0.7101.</li>
<li>SkyWater Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyt#NASDAQ">SKYT</a>) gained 15.4% to $10.98.</li>
<li>ImmunityBio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ibrx#NASDAQ">IBRX</a>) gained 14.3% to $3.9999 after dipping 33% on Friday.</li>
<li>Celldex Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cldx#NASDAQ">CLDX</a>) surged 13.9% to $43.00 following strong quarterly sales.</li>
<li>Polestar Automotive Holding UK PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/psny#NASDAQ">PSNY</a>) gained 13.4% to $1.4850.</li>
<li>Itron, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/itri#NASDAQ">ITRI</a>) rose 12.3% to $84.11 after the company reported fourth-quarter financial results and issued first-quarter guidance above estimates.</li>
<li>HashiCorp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hcp#NASDAQ">HCP</a>) gained 11.8% to $24.77 after Morgan Stanley upgraded the stock from Equal-Weight to Overweight and raised its price target from $23 to $30.</li>
<li>Marathon Digital Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mara#NASDAQ">MARA</a>) jumped 11.2% to $26.67.</li>
<li>NeuBase Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nbse#NASDAQ">NBSE</a>) shares surged 10.5% to $0.83. Neubase Therapeutics, on Feb. 22, said board determined for company to dissolve, liquidate and distribute to stockholders its available assets.</li>
<li>Carmell Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ctcx#NASDAQ">CTCX</a>) rose 9.9% to $2.47. Carmell announced product development has been completed for Gold Limited Edition Exclusive launch in March 2024.</li>
<li>Domino&#39;s Pizza, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dpz#NYSE">DPZ</a>) gained 8.2% to $469.01 after the company&rsquo;s fourth quarter 2023 earnings surpassed Wall Street expectations, raised its quarterly dividend, and announced an additional share buyback plan.</li>
<li>NIO Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>) rose 6.5% to $5.75. The company on Monday announced that it entered into a technology license agreement with Forseven Limited.</li>
<li>Teva Pharmaceutical Industries Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/teva#NYSE">TEVA</a>) shares gained 4.3% to $13.44 after the company announced FDA approval of its arthritis treatment.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Aclarion, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acon#NASDAQ">ACON</a>) shares fell 62.5% to $0.34 after the company priced its public offering of 5.175 million units. Each unit includes one share of common stock (or a pre-funded warrant), and two common warrants.</li>
<li>Venus Concept Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vero#NASDAQ">VERO</a>) dipped 28.8% to $0.93 after the company announced a $1.2 million registered direct offering at $1.465 per share.</li>
<li>DIH Holding US, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dhai#NASDAQ">DHAI</a>) fell 28.3% to $0.79.</li>
<li>ThermoGenesis Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/thmo#NASDAQ">THMO</a>) dipped 27.5% to $0.7601.</li>
<li>Intuitive Machines, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lunr#NASDAQ">LUNR</a>) fell 25.1% to $7.18 after the company said its lunar lander may have tipped over upon landing on the moon.</li>
<li>Semilux International Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/selx#NASDAQ">SELX</a>) declined 24.4% to $0.8615.</li>
<li>Brera Holdings PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/brea#NASDAQ">BREA</a>) fell 21.8% to $0.8601.</li>
<li>Antelope Enterprise Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aehl#NASDAQ">AEHL</a>) dipped 21.8% to $1.50. Antelope Enterprise announced closing of $1.3 million registered direct offering and private placement.</li>
<li>NGM Biopharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ngm#NASDAQ">NGM</a>) fell 19.4% to $1.5399. NGM Bio has entered into a definitive agreement and plan of merger with certain affiliates of the Column Group, LP.</li>
<li>Telesis Bio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tbio#NASDAQ">TBIO</a>) shares fell 17.8% to $0.6401. Telesis Bio shares jumped 72% on Friday after the company was granted EUR Patent #3503915 for &quot;Genetically Engineered Vibrio Natriegens (Host Organism For Cloning And Manipulating DNA).&quot;</li>
<li>Beneficient (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/benf#NASDAQ">BENF</a>) fell 17% to $0.1640. On Feb. 13, Beneficient posted a third-quarter loss of $1.98 per share.</li>
<li>Dogness (International) Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dogz#NASDAQ">DOGZ</a>) fell 17% to $6.14.</li>
<li>AtlasClear Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/atch#NYSE">ATCH</a>) shares fell 11.2% to $2.3450 after jumping over 131% on Friday.</li>
<li>Jin Medical International Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zjyl#NASDAQ">ZJYL</a>) declined 11.2% to $6.30.</li>
<li>Roma Green Finance Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/roma#NASDAQ">ROMA</a>) fell 9.9% to $1.4599 after tumbling 11% on Friday.</li>
<li>Surgery Partners, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgry#NASDAQ">SGRY</a>) dipped 7.8% to $30.43 following weak quarterly sales.</li>
<li>World Acceptance Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wrld#NASDAQ">WRLD</a>) fell 7% to $120.71. World Acceptance recently reported better-than-expected third-quarter financial results.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/24/02/37283655/intuit-to-rally-around-14-here-are-10-top-analyst-forecasts-for-friday"> Intuit To Rally Around 14%? Here Are 10 Top Analyst Forecasts For Friday </a>

Why Freshpet Shares Are Trading Higher By Around 15%? Here Are Other Stocks Moving In Monday's Mid-Day Session

Freshpet Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) reported fourth-quarter fiscal 2023 sales growth of 29.9% year-on-year to $215.42 million,<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/g37307680/freshpet-inc-reports-fourth-quarter-and-full-year-2023-financial-results" rel="noreferrer noopener">&nbsp;beating the consensus of $204.36 million.</a>
Net sales for the quarter were driven primarily by volume gains of 25%. EPS was $0.31, sharply <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">above the consensus of $0.05.</a>
Gross profit increased to $74.57 million from $45.71 million YoY, and Adjusted gross profit was $88.52 million (+61.6% Y/Y). The adjusted gross margin expanded by 806 bps to 41.1%.
The company&#8217;s net income was $15.3 million compared to a net loss of $(2.9) million for the prior year, reflecting the contribution from higher sales, increased gross margin, and reduced logistics costs as a percentage of net sales.
Selling, general and administrative expenses rose 24.9% to $59.68 million, and adjusted SG&amp;A expenses rose 53.6% Y/Y to $57.19 million. Adjusted EBITDA was $31.33 million (+66.9% Y/Y), and the margin expanded by 322 bps to 14.5%.
Net cash flows provided by operating activities for the fiscal totaled $75.49 million, compared to cash used of $(43.23) million in 2022. The company held $297.87 million in cash and equivalents as of December 31, 2023.
&#8220;In 2024, we intend to continue making strong margin improvement and demonstrate continued capital discipline, while sustaining the net sales growth that Freshpet has become known for —further driving profitability and creating significant shareholder value,&#8221; commented Billy Cyr, Freshpet&#8217;s Chief Executive Officer.
2024 Outlook: Freshpet expects net sales of at least $950 million versus the $945.74 million consensus. It sees adj. gross margin expansion of at least 100 basis points.
The company expects adjusted EBITDA of $100 million -$110 million and<a href="https://www.benzinga.com/calendars/guidance"> capital expenditures of ~$210 million.</a>
Price Action: FRPT shares traded higher by 17.28% at $107.91 on the last check Monday.
Photo via Pixabay

WIIM

Freshpet shares are trading higher after the company reported better-than-expected 2024 financial results.

As of Feb. 26, 2024, three stocks in the consumer staples sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi"> RSI is above 70</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major overbought players in this sector.
<h3>Freshpet, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frpt#NASDAQ">FRPT</a>)</h3>
<ul>
<li>On Feb. 26, Freshpet posted upbeat quarterly earnings. The company&rsquo;s stock gained around 3% over the past five days and has a <a href="https://www.benzinga.com/quote/FRPT">52-week high of $93.12 </a>.</li>
<li>RSI Value: 71.14</li>
<li>FRPT Price Action: Shares of Freshpet gained 1.9% to close at $92.01 on Friday.</li>
</ul>
<h3>Walmart Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmt#NYSE">WMT</a>)</h3>
<ul>
<li>On Feb. 20, Walmart reported fourth-quarter FY24 net sales growth of 5.7% year-over-year to $173.39 billion, beating the consensus of $170.71 billion. Adjusted EPS was $1.80, beating the consensus of $1.65. The stock price gained after the results. The company&rsquo;s stock gained around 34% over the past month and <a href="https://www.benzinga.com/quote/WMT"> has a 52-week high </a> of $177.65.</li>
<li>RSI Value: 73.11</li>
<li>WMT Price Action: Shares of Walmart rose 0.1% to close at $175.56 on Friday.</li>
</ul>
<h3>Costco Wholesale Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cost#NASDAQ">COST</a>)</h3>
<ul>
<li>On Feb. 7, Costco reported January net sales of $22.08 billion, up 4.5% year over year. The company&rsquo;s stock gained around 7% over the past month and has a <a href="https://www.benzinga.com/quote/COST"> 52-week high </a> of $742.51.</li>
<li>RSI Value: 74.13</li>
<li>COST Price Action: Shares of Costco gained 0.5% to close at $737.93 on Friday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/24/02/37305511/workday-dominos-and-3-stocks-to-watch-heading-into-monday"> Workday, Domino&#39;s And 3 Stocks To Watch Heading Into Monday </a>

Short Ideas

Pre-Market Outlook

COST

Top 3 Defensive Stocks That May Collapse In February

Outlook
For full year 2024, the Company is providing the following&nbsp;guidance:
<ul>
<li>Net sales of at least&nbsp;$950 million, an increase of at least&nbsp;24%&nbsp;from 2023,</li>
<li>Adjusted EBITDA in the range of&nbsp;$100&nbsp;to&nbsp;$110 million, and</li>
<li>Capital expenditures of ~$210 million.</li>
</ul>

Freshpet Expects 2024 Net Sales Of At Least $950M Vs. $945.74M Consensus, Adjusted EBITDA Of $100M-$110M And Capital Expenditures Of ~$210M

Freshpet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) reported quarterly earnings of $0.31 per share which beat the analyst consensus estimate of $0.05 by 520 percent. This is a 616.67 percent increase over losses of $(0.06) per share from the same period last year. The company reported quarterly sales of $215.42 million which beat the analyst consensus estimate of $204.36 million by 5.41 percent. This is a 29.90 percent increase over sales of $165.83 million the same period last year.

Freshpet Q4 EPS $0.31 Beats $0.05 Estimate, Sales $215.42M Beat $204.36M Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; Kosmos Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KOS#NYSE">KOS</a>) is projected to report quarterly earnings at $0.23 per share on revenue of $477.73 million.
&bull; Krystal Biotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRYS#NASDAQ">KRYS</a>) is estimated to report quarterly loss at $0.37 per share on revenue of $28.61 million.
&bull; Li Auto (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) is estimated to report quarterly earnings at $0.29 per share on revenue of $5.48 billion.
&bull; Clear Channel Outdoor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCO#NYSE">CCO</a>) is expected to report quarterly earnings at $0.04 per share on revenue of $610.14 million.
&bull; Lincoln Educational Servs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LINC#NASDAQ">LINC</a>) is expected to report quarterly earnings at $0.27 per share on revenue of $96.20 million.
&bull; BioCryst Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCRX#NASDAQ">BCRX</a>) is projected to report quarterly loss at $0.24 per share on revenue of $90.01 million.
&bull; Fresh Del Monte Produce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDP#NYSE">FDP</a>) is estimated to report quarterly earnings at $0.30 per share on revenue of $1.03 billion.
&bull; Gilat Satellite Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILT#NASDAQ">GILT</a>) is estimated to report quarterly earnings at $0.07 per share on revenue of $75.98 million.
&bull; Itron (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITRI#NASDAQ">ITRI</a>) is likely to report quarterly earnings at $0.75 per share on revenue of $570.23 million.
&bull; Playtika Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTK#NASDAQ">PLTK</a>) is estimated to report quarterly earnings at $0.17 per share on revenue of $629.98 million.
&bull; Enlight Renewable Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENLT#NASDAQ">ENLT</a>) is projected to report earnings for its Fiscal Year 2023.
&bull; Surgery Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGRY#NASDAQ">SGRY</a>) is likely to report quarterly earnings at $0.38 per share on revenue of $741.40 million.
&bull; Alpha Metallurgical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMR#NYSE">AMR</a>) is projected to report quarterly earnings at $9.07 per share on revenue of $796.65 million.
&bull; Elanco Animal Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELAN#NYSE">ELAN</a>) is projected to report quarterly earnings at $0.11 per share on revenue of $1.00 billion.
&bull; Freshpet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) is projected to report quarterly earnings at $0.05 per share on revenue of $204.36 million.
&bull; Kaspi.kz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KSPI#NASDAQ">KSPI</a>) is likely to report earnings for its fourth quarter.
&bull; Public Service Enterprise (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEG#NYSE">PEG</a>) is projected to report quarterly earnings at $0.52 per share on revenue of $2.40 billion.
&bull; Domino&#39;s Pizza (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) is likely to report quarterly earnings at $4.37 per share on revenue of $1.42 billion.
&bull; Fidelity National Info (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>) is expected to report quarterly earnings at $0.94 per share on revenue of $2.53 billion.
&bull; Pilgrims Pride (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPC#NASDAQ">PPC</a>) is estimated to report quarterly earnings at $0.40 per share on revenue of $4.47 billion.
&bull; Freightos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRGO#NASDAQ">CRGO</a>) is expected to report quarterly loss at $0.12 per share on revenue of $5.21 million.
<h3>Companies Reporting After The Bell</h3>
&bull; Innovative Ind Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IIPR#NYSE">IIPR</a>) is likely to report earnings for its fourth quarter.
&bull; Diversified Healthcare (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DHC#NASDAQ">DHC</a>) is likely to report earnings for its fourth quarter.
&bull; Franklin Street Props (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/FSP#AMEX">FSP</a>) is likely to report earnings for its fourth quarter.
&bull; Dril-Quip (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRQ#NYSE">DRQ</a>) is estimated to report quarterly earnings at $0.18 per share on revenue of $118.50 million.
&bull; Revolution Medicines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVMD#NASDAQ">RVMD</a>) is likely to report quarterly loss at $0.90 per share on revenue of $1.09 million.
&bull; FibroGen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) is expected to report quarterly loss at $0.42 per share on revenue of $38.90 million.
&bull; Quanterix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTRX#NASDAQ">QTRX</a>) is likely to report quarterly loss at $0.32 per share on revenue of $29.84 million.
&bull; Staar Surgical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STAA#NASDAQ">STAA</a>) is expected to report quarterly earnings at $0.17 per share on revenue of $75.89 million.
&bull; Sezzle (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEZL#NASDAQ">SEZL</a>) is projected to report earnings for its fourth quarter.
&bull; Aarons (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAN#NYSE">AAN</a>) is projected to report quarterly earnings at $0.03 per share on revenue of $542.07 million.
&bull; Archer Aviation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>) is likely to report quarterly loss at $0.28 per share on revenue of $320 thousand.
&bull; ATI Physical Therapy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATIP#NYSE">ATIP</a>) is projected to report quarterly loss at $3.74 per share on revenue of $177.39 million.
&bull; Air Transport Services Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATSG#NASDAQ">ATSG</a>) is expected to report quarterly earnings at $0.28 per share on revenue of $523.06 million.
&bull; CarGurus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARG#NASDAQ">CARG</a>) is likely to report quarterly earnings at $0.34 per share on revenue of $220.05 million.
&bull; Dorman Prods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DORM#NASDAQ">DORM</a>) is likely to report quarterly earnings at $1.41 per share on revenue of $496.72 million.
&bull; Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) is likely to report quarterly earnings at $0.40 per share on revenue of $42.67 million.
&bull; Erie Indemnity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIE#NASDAQ">ERIE</a>) is likely to report quarterly earnings at $2.02 per share on revenue of $772.57 million.
&bull; Fate Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FATE#NASDAQ">FATE</a>) is estimated to report quarterly loss at $0.52 per share on revenue of $1.59 million.
&bull; Helix Energy Solns Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLX#NYSE">HLX</a>) is estimated to report quarterly earnings at $0.10 per share on revenue of $315.60 million.
&bull; AES (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AES#NYSE">AES</a>) is estimated to report quarterly earnings at $0.67 per share on revenue of $3.36 billion.
&bull; Carlyle Secured Lending (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGBD#NASDAQ">CGBD</a>) is projected to report quarterly earnings at $0.52 per share on revenue of $56.74 million.
&bull; iRobot (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRBT#NASDAQ">IRBT</a>) is projected to report quarterly loss at $2.11 per share on revenue of $307.99 million.
&bull; Douglas Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLOW#NYSE">PLOW</a>) is estimated to report quarterly loss at $0.16 per share on revenue of $98.97 million.
&bull; Offerpad Solutions (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPAD#NYSE">OPAD</a>) is projected to report quarterly loss at $0.47 per share on revenue of $249.64 million.
&bull; Postal Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTL#NYSE">PSTL</a>) is projected to report earnings for its fourth quarter.
&bull; PowerSchool Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWSC#NYSE">PWSC</a>) is likely to report quarterly earnings at $0.21 per share on revenue of $183.44 million.
&bull; SBA Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBAC#NASDAQ">SBAC</a>) is likely to report quarterly earnings at $1.37 per share on revenue of $682.17 million.
&bull; SES AI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SES#NYSE">SES</a>) is projected to report earnings for its fourth quarter.
&bull; Solaris Oilfield Infra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOI#NYSE">SOI</a>) is projected to report quarterly earnings at $0.14 per share on revenue of $65.55 million.
&bull; TransMedics Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMDX#NASDAQ">TMDX</a>) is projected to report quarterly loss at $0.03 per share on revenue of $68.51 million.
&bull; Vitesse Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTS#NYSE">VTS</a>) is likely to report quarterly earnings at $0.43 per share on revenue of $61.81 million.
&bull; Sterling Infrastructure (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRL#NASDAQ">STRL</a>) is estimated to report quarterly earnings at $1.00 per share on revenue of $522.45 million.
&bull; Theravance Biopharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBPH#NASDAQ">TBPH</a>) is projected to report quarterly loss at $0.15 per share on revenue of $17.68 million.
&bull; Addus HomeCare (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADUS#NASDAQ">ADUS</a>) is expected to report quarterly earnings at $1.17 per share on revenue of $274.44 million.
&bull; Helios Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLIO#NYSE">HLIO</a>) is projected to report quarterly earnings at $0.27 per share on revenue of $183.35 million.
&bull; Asure Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASUR#NASDAQ">ASUR</a>) is estimated to report quarterly earnings at $0.05 per share on revenue of $26.39 million.
&bull; Heico (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>) is estimated to report quarterly earnings at $0.74 per share on revenue of $894.28 million.
&bull; Primoris Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRIM#NYSE">PRIM</a>) is likely to report quarterly earnings at $0.67 per share on revenue of $1.55 billion.
&bull; Workday (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) is likely to report quarterly earnings at $1.47 per share on revenue of $1.92 billion.
&bull; Agora (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/API#NASDAQ">API</a>) is likely to report quarterly loss at $0.09 per share on revenue of $41.74 million.
&bull; EverQuote (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVER#NASDAQ">EVER</a>) is projected to report quarterly loss at $0.32 per share on revenue of $49.81 million.
&bull; SI-BONE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIBN#NASDAQ">SIBN</a>) is expected to report quarterly loss at $0.28 per share on revenue of $37.61 million.
&bull; Hims &amp; Hers Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) is projected to report quarterly loss at $0.02 per share on revenue of $245.82 million.
&bull; Trex Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TREX#NYSE">TREX</a>) is likely to report quarterly earnings at $0.19 per share on revenue of $193.29 million.
&bull; Adtran Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>) is estimated to report quarterly loss at $0.11 per share on revenue of $228.30 million.
&bull; RLJ Lodging (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLJ#NYSE">RLJ</a>) is projected to report quarterly earnings at $0.00 per share on revenue of $314.28 million.
&bull; KNOT Offshore Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNOP#NYSE">KNOP</a>) is projected to report quarterly earnings at $0.05 per share on revenue of $71.33 million.
&bull; ONEOK (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>) is expected to report quarterly earnings at $1.21 per share on revenue of $5.89 billion.
&bull; Unity Software (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) is likely to report quarterly loss at $0.42 per share on revenue of $564.02 million.
&bull; Everbridge (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVBG#NASDAQ">EVBG</a>) is projected to report quarterly earnings at $0.49 per share on revenue of $114.66 million.
&bull; MidCap Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MFIC#NASDAQ">MFIC</a>) is expected to report quarterly earnings at $0.43 per share on revenue of $67.63 million.
&bull; Zoom Video Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) is projected to report quarterly earnings at $1.15 per share on revenue of $1.13 billion.
&bull; Heidrick &amp; Struggles Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSII#NASDAQ">HSII</a>) is estimated to report quarterly earnings at $0.68 per share on revenue of $248.12 million.
&bull; SkyWater Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYT#NASDAQ">SKYT</a>) is projected to report quarterly loss at $0.12 per share on revenue of $74.84 million.
&bull; FS KKR Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSK#NYSE">FSK</a>) is estimated to report quarterly earnings at $0.75 per share on revenue of $453.28 million.
&bull; CrossAmerica Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAPL#NYSE">CAPL</a>) is expected to report quarterly earnings at $0.22 per share on revenue of $1.11 billion.
&bull; PubMatic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PUBM#NASDAQ">PUBM</a>) is projected to report quarterly earnings at $0.20 per share on revenue of $78.20 million.
&bull; MasterBrand (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MBC#NYSE">MBC</a>) is projected to report quarterly earnings at $0.27 per share on revenue of $666.70 million.
&bull; Albany Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIN#NYSE">AIN</a>) is expected to report quarterly earnings at $0.82 per share on revenue of $298.26 million.
&bull; New Mountain Finance (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NMFC#NASDAQ">NMFC</a>) is likely to report quarterly earnings at $0.40 per share on revenue of $93.28 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

ACHR

ADTN

ADUS

ASUR

ATIP

ATSG

BCRX

CAPL

CARG

CGBD

CRGO

DORM

ELAN

ENLT

ERIE

EVBG

EVER

FATE

FGEN

GILT

Hims & Hers Health, Inc. Class A Common Stock

HIMS

HLIO

HSII

IIPR

IRBT

KNOP

KSPI

LINC

Citigroup Financial 300% Minupon Princ Protected Nts for Russell 2000 Index

MFIC

NMFC

OPAD

PLOW

PLTK

PRIM

PSTL

PUBM

PWSC

QTRX

RVMD

SEZL

SIBN

STAA

STRL

TBPH

TMDX

TREX

Earnings Scheduled For February 26, 2024

Freshpet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) is set to give its latest quarterly earnings report on Monday, 2024-02-26. Here's what investors need to know before the announcement.
Analysts estimate that Freshpet will report an earnings per share (EPS) of $0.05. 
Freshpet bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.04, which was followed by a 0.31% drop in the share price the next day.
Here's a look at Freshpet's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.19</td>
<td>-0.38</td>
<td>-0.44</td>
<td>-0.09</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.15</td>
<td>-0.35</td>
<td>-0.52</td>
<td>-0.06</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-0.0%</td>
<td>-3.0%</td>
<td>1.0%</td>
<td>0.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1708714848_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Freshpet were trading at $90.29 as of February 22. Over the last 52-week period, shares are up 49.33%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/FRPT/earnings">To track all earnings releases for Freshpet visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview: Freshpet

Freshpet's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NYSE">FRPT</a>) short percent of float has fallen 6.19% since its last report. The company recently reported that it has 6.16 million shares sold short, which is 12.89% of all regular shares that are available for trading. Based on its trading volume, it would take traders 15.29 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Freshpet Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1708696822_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Freshpet has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Freshpet's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Freshpet's peer group average for short interest as a percentage of float is 4.80%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

How Is The Market Feeling About Freshpet?

Citigroup analyst Thomas Palmer initiates coverage on Freshpet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) with a Neutral rating and announces Price Target of $94.

Initiation

Citigroup Initiates Coverage On Freshpet with Neutral Rating, Announces Price Target of $94

The number of U.S. homes with pets has been <a href="https://www.statista.com/statistics/198086/us-household-penetration-rates-for-pet-owning-since-2007/">trending upward</a> for decades, with more than 5 million more pets in the U.S. than before the pandemic. Beyond the pandemic-driven boom, the trends continue, driven by changing social dynamics as well as technological advancements. According to Morgan Stanley, the pet services industry is set to grow at a compound annual growth rate (CAGR) of 8% over 2022-2030, reaching a projected total of <a href="https://www.morganstanley.com/ideas/pet-care-industry-outlook-2030">$277 billion</a>.&nbsp;
Average annual household spending per pet could grow from <a href="https://www.morganstanley.com/ideas/us-pets-investing-trend">$980</a> in 2020 to $1,292 by 2025 and expand further to $1,909 by 2030, according to Morgan Stanley. This growth would be distributed across various categories, including pet food, veterinary care and a handful of other services. Additionally, there is a booming set of sub-sectors like dog walking, pet-sitting, grooming and training, underscoring the scale and scope of the industry&rsquo;s growth. Amidst this broad expansion, this upward trend in sales is estimated by some to be a full 50% higher in 2023 at <a href="https://www.americanpetproducts.org/news/News-Public-Relations/pet-industry-market-size-trends-ownership-statistics">$143.6 billion</a>.&nbsp;
<h2>Market Factors Fueling The Boom</h2>
The growth of the U.S. pet services industry can be attributed to several key factors. These range from the evolving perception of pets in our households to technological innovations that are reshaping how pet care services are delivered:
<ul>
<li>Humanization of Pets: Pets are increasingly seen as family members, leading to heightened demand for high-quality services. This shift is evident in the <a href="https://www.americanpetproducts.org/news/News-Public-Relations/pet-industry-market-size-trends-ownership-statistics">2023 sales</a> of pet food and treats ($62.7 billion), vet care and product sales ($37 billion) and supplies and over-the-counter medicine ($32.1 billion). Furthermore, <a href="https://www.usatoday.com/story/money/personalfinance/2023/04/14/pet-spending-remains-high-despite-inflation/11659894002/">nearly half</a> of pet owners in a recent Ally Consumer Research survey said they would cut spending on themselves or take on debt before cutting their pet budget.&nbsp;</li>
<li>Increase in Pet Ownership: The APPA National Pet Owners Survey revealed that <a href="https://www.americanpetproducts.org/news/News-Public-Relations/pet-industry-market-size-trends-ownership-statistics">66% of U.S. households own a pet</a>. This translates to about 86.9 million households with pets, including 65.1 million dog owners and 46.5 million cat owners. Millennials and Generation X are the largest demographic groups among pet owners.</li>
<li>Impact of COVID-19: The pandemic accelerated the growth of the pet industry in a number of ways. With more people now working from home, there&#39;s been a notable <a href="https://www.statista.com/statistics/1191395/pet-ownership-status-due-to-covid-19-in-the-us/">increase in pet ownership</a>, which naturally contributes to overall demand in the industry, but it has also fueled <a href="https://www.statista.com/topics/4405/online-pet-care-market/#topicOverview">e-commerce sales</a>.</li>
<li>Technological Advancements: Technology has played a pivotal role in pet care, with <a href="https://www.statista.com/topics/4405/online-pet-care-market/#topicOverview">over half of Americans</a> turning to Amazon.com Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) for pet products. Other online platforms like Target Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tgt#NYSE">TGT</a>), Walmart Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmt#NYSE">WMT</a>) and Costco Wholesale Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cost#NASDAQ">COST</a>) are also very popular among consumers. However, Chewy Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/chwy#NYSE">CHWY</a>) is still the frontrunner in the dedicated <a href="https://www.statista.com/forecasts/1204078/online-pet-shops-visited-by-consumers-us">online pet shop segment</a>. Overall, technology is providing greater variety and convenience to consumers who seek pet-related products.</li>
</ul>
<h2>Emerging Trends Within The Industry</h2>
As the pet services industry continues to grow, several emerging trends are shaping its future. These trends reflect the changing needs and preferences of pet owners, as well as broader societal shifts toward sustainability and holistic care:
<ul>
<li>Premiumization of Services: The pet care industry is experiencing a significant shift <a href="https://develop.nielseniq.com/global/en/insights/education/2023/premiumization-and-private-label-drive-the-pet-category-from-two-sides/">toward premiumization</a>, evidenced by the rising popularity of luxury pet resorts and advanced personalized nutrition options. Companies like Freshpet (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frpt#NASDAQ">FRPT</a>)&nbsp; are at the forefront of this movement, with a focus on high-quality, specialized pet food products.</li>
<li>Focus on Pet Wellness: There&#39;s a growing emphasis on holistic care in the pet industry, extending beyond physical health to include <a href="https://www.merck-animal-health.com/blog/2024/01/15/4th-veterinary-wellbeing-study/">mental well-being</a>. This is reflected in the increasing provision of mental health resources for veterinary professionals and the integration of <a href="https://www.medvet.com/specialty/integrative-medicine/">alternative pet therapies</a> such as massage, acupuncture and chiropractic care in treatment plans.</li>
<li>Subscription-based Services: The pet industry is witnessing a surge in convenience-driven <a href="https://www.modernretail.co/retailers/pet-supply-retailers-are-betting-on-subscriptions-and-services-to-drive-growth/">subscription-based models</a>. This is particularly evident in the success of subscription services for pet foods and ongoing service memberships. Companies like Chewy and Amazon are leading this trend, with Chewy reporting a significant <a href="https://www.fool.com/investing/2023/10/07/chewy-autoship-is-the-gift-that-keeps-on-giving/">18% increase</a> in its auto-ship sales, highlighting the growing consumer preference for regular, hassle-free deliveries of pet products and services.​</li>
<li>Sustainability: The pet industry is increasingly focusing on producing more socially and environmentally sustainable products, from organically grown pet food to ecologically friendly chew toys. The Pet Sustainability Coalition, in collaboration with the World Pet Association, found that <a href="https://www.aaha.org/publications/newstat/articles/2019-02/report-the-pressure-is-on-for-more-sustainable-pet-products/">91% of industry professionals</a> in 2021 expected the demand for such products to increase rapidly. This trend aligns with the broader consumer shift towards sustainability, with over <a href="https://petkeen.com/pet-industry-statistics-trends/#18_More_than_50_of_pet_owners_are_willing_to_pay_more_for_eco-friendly_pet_care_products">50% of pet owners</a> willing to pay more for eco-friendly pet care products.</li>
</ul>
<h2>Innovative Trends In The Pet Industry</h2>
Aside from these broader trends, there are also specific innovations in the pet industry worth spotlighting. Companies like Wag! Group (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pet#NASDAQ">PET</a>) and <a href="https://www.inspirevet.com/">Inspire Veterinary Partners Inc.</a> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ivp#NASDAQ">IVP</a>) are adopting new strategies. Wag! has partnered with <a href="https://finance.yahoo.com/news/wag-pet-care-solutions-now-134400346.html?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAFGAU6FZPy3awIGPKXDkorMF2CH-cNpY5lIGwg-x9-8dQethneVXQBMxozg4zo5yZAhq4IGlzPDP7SssWOx1nLdWJjcoGDEx4RrVfFc45ofB1SoS8Na7eZZCBctiOWd82uOfHhSVJImiDNW8PY2koem_ACF2zZvpIqZhBEzhJwuN">Bright Horizons Back-Up Care Services</a> to offer pet care as an employee benefit, aiming to align with the changing needs of the modern workforce and potentially improve work-life balance. Inspire Veterinary Partners, on the other hand, is moving away from conventional veterinary business models, focusing instead on employee and pet welfare while introducing different business structures and equity options for veterinary professionals &ndash; the company prides itself on being &ldquo;employee-owned&rdquo; due to its innovative equity model.
This approach seems to be a response to the current industry trend, where large consolidators own approximately <a href="https://avmajournals.avma.org/view/journals/javma/261/12/javma.23.06.0326.xml#ref6">50% of all veterinary hospital revenue</a> in the U.S. The acquisition of independent clinics is often driven by a desire for increased efficiency and the need for greater technology investment, and by integrating into larger networks, these clinics may be able to enhance their workflows, boost productivity and potentially improve the client experience, which is increasingly valued by <a href="https://www.forbes.com/sites/forbesbusinesscouncil/2024/01/18/five-emerging-trends-in-pet-health-care-for-2024-and-beyond/?sh=c1014cb14303">younger pet owners</a>, such as millennials and Generation Z. These steps taken by Wag! and Inspire Veterinary Partners could be seen as aligning with evolving consumer expectations and a shift toward more client-focused and employee-friendly practices in the pet care industry.
<h2>Industry Evolution And Future Outlook</h2>
The U.S. pet services industry&#39;s expansion in recent years is a testament to the deepening bond between humans and their pets. Driven by humanization, increased ownership, technological advances and a focus on wellness and sustainability, the industry is adapting to changing pet and owner needs. Meanwhile, innovators like Wag! and Inspire Veterinary Partners Inc. are redefining standards in unexpected ways, emphasizing ethical and well-being-focused practices for this steadily growing industry. While this robust growth has the potential to boost the economy, it also stands to enrich the human-pet relationship, symbolizing the sector&#39;s enduring significance and potential.
Other companies innovating in the space include PetIQ (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/petq#NASDAQ">PETQ</a>), Trupanion (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trup#NASDAQ">TRUP</a>) and Zoetis (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/zts#NYSE">ZTS</a>).
Featured photo by <a href="https://unsplash.com/@sita2">Andrew S</a> on <a href="https://unsplash.com/photos/a-dog-and-a-cat-laying-in-the-grass-ouo1hbizWwo">Unsplash</a>.
This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice.

Emerging Markets

AMZN

CHWY

PETQ

TRUP

Paws And Prosperity: Exploring U.S. Pet Services Growth And The Anticipated Surge In Annual Pet Spending From $980 To $1,292 By 2025

Piper Sandler has decided to maintain its Overweight rating of Freshpet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) and raise its price target from $88.00 to $100.00.
Shares of Freshpet are trading up 0.0% over the last 24 hours, at $87.40 per share.
A move to $100.00 would account for a 14.42% increase from the current share price.
<h3>About Freshpet</h3>
Freshpet Inc manufactures and markets natural fresh meals and treats for dogs and cats. The Company's products are distributed throughout the United States, Canada and other international markets, into major retail classes including Grocery (including online), Mass and Club, Pet Specialty, and Natural retail. The company's products include Nature's Fresh, Deli Fresh, Vital, and Freshpet among others.
<h3>About Analyst Ratings</h3>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Piper Sandler Maintains Overweight Rating for Freshpet: Here's What You Need To Know

Piper Sandler analyst Michael Lavery maintains Freshpet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) with a Overweight and raises the price target from $88 to $100.

Piper Sandler Maintains Overweight on Freshpet, Raises Price Target to $100

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Finding strong buy stocks under-$20 takes a little effort, but it&rsquo;s well worth it. Many of the stocks at this price level are small-cap stocks. But you&rsquo;ll also find mid-cap and large-cap stocks. &nbsp;



One of the key benefits for finding stocks under $20 is that they are affordable to a wider range of investors. But this is where you have to remember that there&rsquo;s a difference between price and value. Sometimes stocks are priced below $20 because they&rsquo;re tapped out on growth.



But when you can find strong buy stocks under-$20, you get stocks that offer the opportunity for stock price growth and, in many cases, an appealing dividend. &nbsp;



Another benefit of buying strong buy stocks under $20 is, at&nbsp;this price level, these stocks generally have more price stability than <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a>, but more growth opportunity than what you may get from higher-priced stocks. &nbsp;



<h2>Infosys (INFY)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/india1600a-300x169.jpg" alt=""><div>Source: Shutterstock</div></div>Infosys (NYSE:<a href="https://investorplace.com/stock-quotes/infy-stock-quote/">INFY</a>) is a way to invest in the popularity of India as an emerging market opportunity. Reuters reported that India-focused exchange-traded funds (ETFs) with an India focus saw a <a href="https://www.reuters.com/technology/india-etf-flows-hit-record-2023-analysts-see-momentum-persisting-election-year-2024-01-15/" target="_blank">record inflow of $8.6 billion in 2023</a>. And Infosys is one of the top holdings in many of the India-focused ETFs.&nbsp;



Infosys provides consulting, technology, outsourcing, and next-gen digital servics. The company generates a significant amount of revenue from U.S. companies looking to outsource their information technology work. This work leads to sticky revenue as evidenced by the <a href="https://investorplace.com/2023/12/3-emerging-market-stocks-to-ride-the-next-bull-run/" target="_blank">company&rsquo;s low attrition rate of just 15%</a>.&nbsp;



However, steady revenue and earnings is not the same as a revenue and earnings growth. And the rise of AI is a potential threat. But a top Infosys executive recently said that cost considerations m<a href="https://finance.yahoo.com/news/cost-concerns-could-delay-ai-111923074.html" target="_blank">ay force companies to delay the implementation of AI</a> in 2024. &nbsp;



Analysts have a consensus price target of $20.16 which is only about 2% above the INFY stock closing price on March 14. Nevertheless, 23 out of 46 analysts have a Strong Buy rating on the stock. &nbsp;



<h2>Carnival (CCL)&nbsp;</h2>



Carnival (NYSE:<a href="https://investorplace.com/stock-quotes/ccl-stock-quote/">CCL</a>) has been on a comeback tour with CCL stock up 78% in the last 12 months. However, it hasn&rsquo;t been smooth sailing for Carnival in 2024 with the stock down 12%. Concerns abound about how long the U.S. consumer can hold up.&nbsp;



Concerns about holding up also weighing on Carnival, which is in the midst of paying down the <a href="https://investorplace.com/2024/03/turbulence-ahead-3-travel-stocks-to-scrutinize-after-the-expedia-layoffs/" target="_blank">substantial debt it added in 2020</a>. Fortunately, as of December 2023, the cruise line was <a href="https://www.marketwatch.com/story/carnivals-stock-surges-after-results-beat-expectations-and-outlook-was-upbeat-as-demand-keeps-strengthening-d596cf87" target="_blank">reporting record high occupancy rates</a>. That&rsquo;s a key reason that <a href="https://www.tradingview.com/chart/aMepJfAr/?symbol=NYSE%3ACCL&amp;utm_source=www.marketbeat.com&amp;utm_medium=widget&amp;utm_campaign=chart-logo&amp;utm_term=NYSE%3ACCL" target="_blank">revenue in 2023 was back to 2019 levels</a>. However, earnings are still negative and even though Carnival expects that to change in 2024, it will take time for profits to get back to 2019 levels.&nbsp;



Analysts have a 20.88 consensus price target on CCL stock. And 24 out of 36 analysts give the stock a Strong Buy rating. It&rsquo;s one of those strong buy stocks under-$20.



<h2>Permian Resources (PR)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-1-300x169.png" alt="Explore the stock market trends for 2024 with analytical visuals of businessman planning long term investments and future business growth, Navigate towards success with smart strategies. growth stocks with millionaire potential"><div>Source: Thapana_Studio / Shutterstock.com</div></div><a href="https://investorplace.com/industries/energy/">Energy stocks</a> in general are undervalued. And with Permian Resources (NYSE:<a href="https://investorplace.com/stock-quotes/pr-stock-quote/">PR</a>), you&rsquo;re getting an undervalued stock that also fits into the class of strong buys under $20. Analysts have a consensus price target of $18.14 on PR stock and 15 out of 21 analysts give the stock a Strong Buy rating. &nbsp;



Right in the company&rsquo;s name is one of the biggest benefits to PR stock. The company is the largest pure-play exploration and production company in the coveted Permian Basin area. Permian Resources has <a href="https://permianres.com/wp-content/uploads/2024/02/PR-Q4FY-2023-Earnings-Presentation_vFinal.v2.pdf" target="_blank">over 400,000 net acres and approximately 70,000 net royalty areas</a>. That includes the 14,000 net acres and 5,300 net royalty acres the company acquired in series of transactions in 2023. &nbsp;



Permian Resources is also an incredibly shareholder friendly company that is committed to returning 50% of its remaining free cash flow to shareholders in the form of dividends and share buybacks. &nbsp;



<h2>NexGen Energy (NXE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/uranium1600-300x169.jpg" alt="periodic table concept with black cubes. uranium element is glowing. Uranium stocks"><div>Source: Shutterstock</div></div>Sticking in the energy sector, NexGen Energy (NYSE:<a href="https://investorplace.com/stock-quotes/nxe-stock-quote/">NXE</a>) is an exploration and development stage company that is on the cusp of being one of Canada&rsquo;s leading uranium miners. Uranium has been one of the best performing asset classes over the past two years, and investors are looking intently at this space for opportunities.&nbsp;



The case for NexGen Energy lies in its 100%-owned Rook 1 project in the renowned Athabasca Basin in Saskatchewan. The prize here is the Arrow Deposit that the company discovered nearly 10 years ago. Once production starts NexGen <a href="https://investorplace.com/2024/03/7-nuclear-and-uranium-stocks-to-power-up-your-portfolio/" target="_blank">expects to mine 30 million pounds annually</a>. That amount is enough to cover 50% of the West&rsquo;s supply needs. &nbsp;



Analysts give NXE stock a $10 price target and 12 out of 14 analysts give the stock a Strong Buy rating. &nbsp;



<h2>Chewy (CHWY)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/07/businessman-mountain-growth-stocks-flag-peak-1600-300x169.jpg" alt="Graphic of businessman running up mountain path toward red flag at peak with red arrow on path behind him"><div>Source: shutterstock.com/pichit</div></div>In an inflationary environment, people food isn&rsquo;t the only increased expense for families. Pet food and pet supplies have also seen an increase in price. That&rsquo;s not affecting the top line for Chewy (NYSE:<a href="https://investorplace.com/stock-quotes/chwy)-stock-quote/">CHWY)</a>, but it&rsquo;s taking its toll on earnings. The slump in earnings is a key reason why CHWY stock is down 53% in the last 12 months. &nbsp;



It&rsquo;s not the only reason though. With Freshpet (NASDAQ:<a href="https://investorplace.com/stock-quotes/frpt-stock-quote/">FRPT</a>) as a notable exception, pet stocks in general are out of favor with investors. That&rsquo;s hard to explain as spending on pets across all categories continues to increase. &nbsp;&nbsp;



However, with Chewy expected to return to profitability in 2024, it may be time for investors to take a closer look at Chewy as one of the strong buy stocks under $20. Analysts have a consensus price target of $25.42 for CHWY, a 47.4% increase from its closing price on March 14, 2024. And 13 out of 30 analysts give the stock a Strong buy rating. &nbsp;



<h2>Barrick Gold (GOLD)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/09/costco-gold-bars1600-300x169.png" alt="Gold bars and Financial concept, studio shots. Costco's gold bars, cost stock"><div>Source: Misunseo / Shutterstock.com</div></div>Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) has been on fire in 2024, but so has gold. It&rsquo;s amusing to see how the two camps constanly bicker at each other. But the takeaway is that they&rsquo;re both fighting the same battle. They&rsquo;re just different tools.&nbsp;



If you prefer gold, but don&rsquo;t want the storage and insurance issues associated with physical gold, mining stocks like Barrick Gold (NYSE:<a href="https://investorplace.com/stock-quotes/gold-stock-quote/">GOLD</a>) are a good option. At the end of 2023, Barrick had 77 million ounces of proven and probable gold reserves.



In late January, Barrick was trading at a <a href="https://investorplace.com/2024/01/precious-metals-stocks-2024-3-names-offering-strong-growth/" target="_blank">forward P/E ratio of 19.8x</a> which was well above its median P/E of around 13.9. It&rsquo;s still trading at a premium to its median P/E at 17.5x forward earnings. But the difference is that GOLD stock is up 12% in the last month. &nbsp;



Analysts give GOLD stock a <a href="https://www.tradingview.com/chart/aMepJfAr/?symbol=NASDAQ%3AAAPL&amp;utm_source=www.marketbeat.com&amp;utm_medium=widget&amp;utm_campaign=chart-logo&amp;utm_term=NASDAQ%3AAAPL" target="_blank">consensus price target of $20.57</a> which is 30% higher than its closing price on March 14, 2024. Additionally, 13 of 22 analysts give the stock a Strong Buy rating.&nbsp;



<h2>Vale (VALE)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-2-300x169.png" alt="Creative image of growing coin stacks and candlestick forex chart on blurry background. Trade, money and financial growth concept. Growth stocks. Double exposure"><div>Source: Golden Dayz / Shutterstock.com</div></div>Vale (NYSE:<a href="https://investorplace.com/stock-quotes/vale-stock-quote/">VALE</a>) is the last stock on this list, but it may be the best choice for strong buy stocks under $20. The stock is down more than 23% in the last 12 months and now trades at a forward P/E rating of 4.67x. At the same time Vale offers a dividend with a yield of 8.17%. &nbsp;



The mining company has been weighed down by high interest rates as well as a weak commodity market for iron ore and copper. Having said that, gold has started to rally so that may be something that can start Vale&rsquo;s comeback. In the last two quarters, revenue has been growing year-over-year and the company has maintained positive earnings although they are down on a year-over-year basis. All in all, it&rsquo;s one of those strong buy stocks under-$20.



Vale could use an interest rate cut or two and the recent news on inflation puts a damper on that idea. Still, analysts give VALE stock a consensus price target of $17.46 which is 44% higher than the price as of this writing. And <a href="https://www.tradingview.com/chart/aMepJfAr/?symbol=NASDAQ%3AAAPL&amp;utm_source=www.marketbeat.com&amp;utm_medium=widget&amp;utm_campaign=chart-logo&amp;utm_term=NASDAQ%3AAAPL" target="_blank">14 out of 23 analysts give the stock a Strong Buy rating</a>.&nbsp;



On the date of publication, Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.&nbsp;
<div>Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. He has been writing for InvestorPlace since 2019.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/03/7-strong-buy-stocks-under-20-dollars-with-good-value-for-the-price/">Wall Street Favorites: 7 Under-$20 Stocks With Strong Buy Ratings for March 2024 </a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Wall Street Favorites: 7 Under-$20 Stocks With Strong Buy Ratings for March 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Finding strong buy stocks under-$20 takes a little effort, but it&rsquo;s well worth it. Many of the stocks at this price level are small-cap stocks. But you&rsquo;ll also find mid-cap and large-cap stocks. &nbsp;



One of the key benefits for finding stocks under $20 is that they are affordable to a wider range of investors. But this is where you have to remember that there&rsquo;s a difference between price and value. Sometimes stocks are priced below $20 because they&rsquo;re tapped out on growth.



But when you can find strong buy stocks under-$20, you get stocks that offer the opportunity for stock price growth and, in many cases, an appealing dividend. &nbsp;



Another benefit of buying strong buy stocks under $20 is, at&nbsp;this price level, these stocks generally have more price stability than <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a>, but more growth opportunity than what you may get from higher-priced stocks. &nbsp;



<h2>Infosys (INFY)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/india1600a-300x169.jpg" alt=""><div>Source: Shutterstock</div></div>Infosys (NYSE:<a href="https://investorplace.com/stock-quotes/infy-stock-quote/">INFY</a>) is a way to invest in the popularity of India as an emerging market opportunity. Reuters reported that India-focused exchange-traded funds (ETFs) with an India focus saw a <a href="https://www.reuters.com/technology/india-etf-flows-hit-record-2023-analysts-see-momentum-persisting-election-year-2024-01-15/" target="_blank">record inflow of $8.6 billion in 2023</a>. And Infosys is one of the top holdings in many of the India-focused ETFs.&nbsp;



Infosys provides consulting, technology, outsourcing, and next-gen digital servics. The company generates a significant amount of revenue from U.S. companies looking to outsource their information technology work. This work leads to sticky revenue as evidenced by the <a href="https://investorplace.com/2023/12/3-emerging-market-stocks-to-ride-the-next-bull-run/" target="_blank">company&rsquo;s low attrition rate of just 15%</a>.&nbsp;



However, steady revenue and earnings is not the same as a revenue and earnings growth. And the rise of AI is a potential threat. But a top Infosys executive recently said that cost considerations m<a href="https://finance.yahoo.com/news/cost-concerns-could-delay-ai-111923074.html" target="_blank">ay force companies to delay the implementation of AI</a> in 2024. &nbsp;



Analysts have a consensus price target of $20.16 which is only about 2% above the INFY stock closing price on March 14. Nevertheless, 23 out of 46 analysts have a Strong Buy rating on the stock. &nbsp;



<h2>Carnival (CCL)&nbsp;</h2>



Carnival (NYSE:<a href="https://investorplace.com/stock-quotes/ccl-stock-quote/">CCL</a>) has been on a comeback tour with CCL stock up 78% in the last 12 months. However, it hasn&rsquo;t been smooth sailing for Carnival in 2024 with the stock down 12%. Concerns abound about how long the U.S. consumer can hold up.&nbsp;



Concerns about holding up also weighing on Carnival, which is in the midst of paying down the <a href="https://investorplace.com/2024/03/turbulence-ahead-3-travel-stocks-to-scrutinize-after-the-expedia-layoffs/" target="_blank">substantial debt it added in 2020</a>. Fortunately, as of December 2023, the cruise line was <a href="https://www.marketwatch.com/story/carnivals-stock-surges-after-results-beat-expectations-and-outlook-was-upbeat-as-demand-keeps-strengthening-d596cf87" target="_blank">reporting record high occupancy rates</a>. That&rsquo;s a key reason that <a href="https://www.tradingview.com/chart/aMepJfAr/?symbol=NYSE%3ACCL&amp;utm_source=www.marketbeat.com&amp;utm_medium=widget&amp;utm_campaign=chart-logo&amp;utm_term=NYSE%3ACCL" target="_blank">revenue in 2023 was back to 2019 levels</a>. However, earnings are still negative and even though Carnival expects that to change in 2024, it will take time for profits to get back to 2019 levels.&nbsp;



Analysts have a 20.88 consensus price target on CCL stock. And 24 out of 36 analysts give the stock a Strong Buy rating. It&rsquo;s one of those strong buy stocks under-$20.



<h2>Permian Resources (PR)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-1-300x169.png" alt="Explore the stock market trends for 2024 with analytical visuals of businessman planning long term investments and future business growth, Navigate towards success with smart strategies. growth stocks with millionaire potential"><div>Source: Thapana_Studio / Shutterstock.com</div></div><a href="https://investorplace.com/industries/energy/">Energy stocks</a> in general are undervalued. And with Permian Resources (NYSE:<a href="https://investorplace.com/stock-quotes/pr-stock-quote/">PR</a>), you&rsquo;re getting an undervalued stock that also fits into the class of strong buys under $20. Analysts have a consensus price target of $18.14 on PR stock and 15 out of 21 analysts give the stock a Strong Buy rating. &nbsp;



Right in the company&rsquo;s name is one of the biggest benefits to PR stock. The company is the largest pure-play exploration and production company in the coveted Permian Basin area. Permian Resources has <a href="https://permianres.com/wp-content/uploads/2024/02/PR-Q4FY-2023-Earnings-Presentation_vFinal.v2.pdf" target="_blank">over 400,000 net acres and approximately 70,000 net royalty areas</a>. That includes the 14,000 net acres and 5,300 net royalty acres the company acquired in series of transactions in 2023. &nbsp;



Permian Resources is also an incredibly shareholder friendly company that is committed to returning 50% of its remaining free cash flow to shareholders in the form of dividends and share buybacks. &nbsp;



<h2>NexGen Energy (NXE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/uranium1600-300x169.jpg" alt="periodic table concept with black cubes. uranium element is glowing. Uranium stocks"><div>Source: Shutterstock</div></div>Sticking in the energy sector, NexGen Energy (NYSE:<a href="https://investorplace.com/stock-quotes/nxe-stock-quote/">NXE</a>) is an exploration and development stage company that is on the cusp of being one of Canada&rsquo;s leading uranium miners. Uranium has been one of the best performing asset classes over the past two years, and investors are looking intently at this space for opportunities.&nbsp;



The case for NexGen Energy lies in its 100%-owned Rook 1 project in the renowned Athabasca Basin in Saskatchewan. The prize here is the Arrow Deposit that the company discovered nearly 10 years ago. Once production starts NexGen <a href="https://investorplace.com/2024/03/7-nuclear-and-uranium-stocks-to-power-up-your-portfolio/" target="_blank">expects to mine 30 million pounds annually</a>. That amount is enough to cover 50% of the West&rsquo;s supply needs. &nbsp;



Analysts give NXE stock a $10 price target and 12 out of 14 analysts give the stock a Strong Buy rating. &nbsp;



<h2>Chewy (CHWY)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/07/businessman-mountain-growth-stocks-flag-peak-1600-300x169.jpg" alt="Graphic of businessman running up mountain path toward red flag at peak with red arrow on path behind him"><div>Source: shutterstock.com/pichit</div></div>In an inflationary environment, people food isn&rsquo;t the only increased expense for families. Pet food and pet supplies have also seen an increase in price. That&rsquo;s not affecting the top line for Chewy (NYSE:<a href="https://investorplace.com/stock-quotes/chwy)-stock-quote/">CHWY)</a>, but it&rsquo;s taking its toll on earnings. The slump in earnings is a key reason why CHWY stock is down 53% in the last 12 months. &nbsp;



It&rsquo;s not the only reason though. With Freshpet (NASDAQ:<a href="https://investorplace.com/stock-quotes/frpt-stock-quote/">FRPT</a>) as a notable exception, pet stocks in general are out of favor with investors. That&rsquo;s hard to explain as spending on pets across all categories continues to increase. &nbsp;&nbsp;



However, with Chewy expected to return to profitability in 2024, it may be time for investors to take a closer look at Chewy as one of the strong buy stocks under $20. Analysts have a consensus price target of $25.42 for CHWY, a 47.4% increase from its closing price on March 14, 2024. And 13 out of 30 analysts give the stock a Strong buy rating. &nbsp;



<h2>Barrick Gold (GOLD)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/09/costco-gold-bars1600-300x169.png" alt="Gold bars and Financial concept, studio shots. Costco's gold bars, cost stock"><div>Source: Misunseo / Shutterstock.com</div></div>Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) has been on fire in 2024, but so has gold. It&rsquo;s amusing to see how the two camps constanly bicker at each other. But the takeaway is that they&rsquo;re both fighting the same battle. They&rsquo;re just different tools.&nbsp;



If you prefer gold, but don&rsquo;t want the storage and insurance issues associated with physical gold, mining stocks like Barrick Gold (NYSE:<a href="https://investorplace.com/stock-quotes/gold-stock-quote/">GOLD</a>) are a good option. At the end of 2023, Barrick had 77 million ounces of proven and probable gold reserves.



In late January, Barrick was trading at a <a href="https://investorplace.com/2024/01/precious-metals-stocks-2024-3-names-offering-strong-growth/" target="_blank">forward P/E ratio of 19.8x</a> which was well above its median P/E of around 13.9. It&rsquo;s still trading at a premium to its median P/E at 17.5x forward earnings. But the difference is that GOLD stock is up 12% in the last month. &nbsp;



Analysts give GOLD stock a <a href="https://www.tradingview.com/chart/aMepJfAr/?symbol=NASDAQ%3AAAPL&amp;utm_source=www.marketbeat.com&amp;utm_medium=widget&amp;utm_campaign=chart-logo&amp;utm_term=NASDAQ%3AAAPL" target="_blank">consensus price target of $20.57</a> which is 30% higher than its closing price on March 14, 2024. Additionally, 13 of 22 analysts give the stock a Strong Buy rating.&nbsp;



<h2>Vale (VALE)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-2-300x169.png" alt="Creative image of growing coin stacks and candlestick forex chart on blurry background. Trade, money and financial growth concept. Growth stocks. Double exposure"><div>Source: Golden Dayz / Shutterstock.com</div></div>Vale (NYSE:<a href="https://investorplace.com/stock-quotes/vale-stock-quote/">VALE</a>) is the last stock on this list, but it may be the best choice for strong buy stocks under $20. The stock is down more than 23% in the last 12 months and now trades at a forward P/E rating of 4.67x. At the same time Vale offers a dividend with a yield of 8.17%. &nbsp;



The mining company has been weighed down by high interest rates as well as a weak commodity market for iron ore and copper. Having said that, gold has started to rally so that may be something that can start Vale&rsquo;s comeback. In the last two quarters, revenue has been growing year-over-year and the company has maintained positive earnings although they are down on a year-over-year basis. All in all, it&rsquo;s one of those strong buy stocks under-$20.



Vale could use an interest rate cut or two and the recent news on inflation puts a damper on that idea. Still, analysts give VALE stock a consensus price target of $17.46 which is 44% higher than the price as of this writing. And <a href="https://www.tradingview.com/chart/aMepJfAr/?symbol=NASDAQ%3AAAPL&amp;utm_source=www.marketbeat.com&amp;utm_medium=widget&amp;utm_campaign=chart-logo&amp;utm_term=NASDAQ%3AAAPL" target="_blank">14 out of 23 analysts give the stock a Strong Buy rating</a>.&nbsp;



On the date of publication, Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.&nbsp;
<div>Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. He has been writing for InvestorPlace since 2019.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/03/7-strong-buy-stocks-under-20-dollars-with-good-value-for-the-price/">Wall Street Favorites: 7 Under-$20 Stocks With Strong Buy Ratings for March 2024 </a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 59 rating InvestorsObserver gives to Freshpet Inc (FRPT)  stock puts it near the top of the Packaged Foods industry. In addition to scoring higher than 89 percent of stocks in the Packaged Foods industry, FRPTâ€&#x2122;s 59 overall rating means the stock scores better than 59 percent of all stocks. FRPT has an Overall Score of

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Two-thirds of American households <a href="https://investorplace.com/2023/11/3-pet-care-stocks-to-capitalize-on-the-animal-economy/">own at least one pet</a>, and large majorities of these pet owners view their companions as part of their families. Therefore, it&rsquo;s unsurprising that many households spend large amounts of money on their pets. Indeed, the global pet care market is expected to be worth nearly $370 billion in 2030, versus an estimated total of almost $250 billion in 2023.&nbsp;Pet stocks are likely to be rather resilient to recessions, as a <a href="https://money.usnews.com/investing/articles/best-pet-stocks">survey suggested that</a> pet owners are very reluctant to reduce the amount they spend on their furry children. Here are three pet stocks that, in light of the strong outlook for the pet economy and their recent, strong performances, should be profitable for investors over the long term. 



<h2>Freshpet (FRPT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/05/frpt1600-300x169.png" alt="A view of several packages of FreshPet (FRPT) pet food, on display at a local grocery store."><div>Source: The Image Party / Shutterstock.com</div></div>Pet food provider, Freshpet&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/frpt-stock-quote/">FRPT</a>), fourth-quarter financials show that the company is growing rapidly and becoming significantly more profitable.



Specifically, its sales<a href="https://seekingalpha.com/news/4071459-freshpet-gaap-eps-of-0_31-beats-0_27-revenue-of-215_4m-beats-10_8m"> jumped 30%</a> YOY to $215 million, while its bottom line came in at $15.3 million, compared with a loss of $2.9 million in Q4 of 2022.



&ldquo;The significant investments we have made&hellip; have begun to generate improved profitability and significant operating cash flow,&rdquo; CEO Billy Cyr <a href="https://seekingalpha.com/pr/19633382-freshpet-inc-reports-fourth-quarter-and-full-year-2023-financial-results?hasComeFromMpArticle=false">said in a statement.</a>&nbsp;



The firm&rsquo;s <a href="https://seekingalpha.com/news/4030820-freshpet-pops-after-pricing-and-volume-gains-lead-to-earnings-topper">balance sheet</a> is strong, as it had $338 million of cash at the end of last year compared with $393 million of debt. 



In January, Goldman named FRPT stock as one of the <a href="https://seekingalpha.com/news/4055268-goldman-says-these-stocks-with-weak-pricing-power-can-outperform">small-cap names</a> that could outperform the stock market going forward. FRPT is a solid option among pet stocks. 



<h2>PetIQ (PETQ)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/pets1600-300x169.jpg" alt="a smiling dog on a leash"><div>Source: Shutterstock</div></div>A wholesaler of pet medications and wellness products, PetIQ (NASDAQ:<a href="https://investorplace.com/stock-quotes/petq-stock-quote/">PETQ</a>), delivered remarkable Q4 results that shows that the firm&rsquo;s top and bottom lines are both expanding. 



Specifically, PetIQ&rsquo;s sales <a href="https://seekingalpha.com/pr/19638386-petiq-inc-reports-fourth-quarter-and-full-year-2023-financial-results?hasComeFromMpArticle=false">jumped 20%</a> versus the same period a year earlier to a record $220 million, while EBITDA climbed 35% year-over-year to $104.7 million. Also importantly, PetIQ generated nearly $62 million of cash from its operations in Q4.



Of the six Wall street analysts <a href="https://seekingalpha.com/symbol/PETQ">who have issued notes</a> on PETQ stock in the last 90 days, five have &ldquo;Buy&rdquo; ratings on it. 



<h2>Trupanion (TRUP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/trup1600-300x169.jpg" alt="a veterinarian holding a small white dog"><div>Source: Shutterstock</div></div>The pet insurance market <a href="https://naphia.org/industry-data/section-2-total-pets-insured/">is growing rapidly</a>, as the number of insured pets in the U.S. climbed 17% last year.



Pet insurer, Trupanion (NASDAQ:<a href="https://investorplace.com/stock-quotes/trup-stock-quote/">TRUP</a>), appears to be benefiting from this trend as it delivered strong top-and-bottom line growth in Q4.



Specifically, its revenue jumped 20% versus the same period a year earlier to $296 million, while its EBITDA came in at $8.5 million, versus an adjusted EBITDA loss of $2.2 million in Q4 of 2022. Moreover, its operating cash flow increased to $17.5 million from just $1 million in Q4 of 2022. 



Also noteworthy is that TRUP insured over 991,000 pets at the end of last year, marking a considerable increase of 14% from the number of pets that it had insured as of the end of 2022. 



Impressively, the firm <a href="https://seekingalpha.com/article/4670815-trupanion-inc-trup-q4-2023-earnings-call-transcript">believes</a> that it can increase its operating income by over 30% this year. In 2023, the firm raised its prices more than 20% but was able to retain 98% of its customers. 



The <a href="https://finance.yahoo.com/quote/TRUP/key-statistics">price-sales ratio of</a> TRUP stock is a very low and attractive 0.5 times. 



On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>
<div>Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel&rsquo;s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been SMCI, INTC, and MGM. You can reach him on Stocktwits at @larryramer.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/unleash-your-portfolio-3-pet-stocks-poised-to-fetch-big-returns/">Unleash Your Portfolio: 3 Pet Stocks Poised to Fetch Big Returns</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.