Bark Stock News: BARK let's the dogs out, stock up 20%

BARK rises 20% on new CEO announcement.
Bark stock price was down more than 75% since IPO.
BARK shares trade at just 1.5 times current fiscal year revenue estimate.

Clay Webster FXStreet

Bark (BARK) shares soared 20% in the first hour of trading on Tuesday after post-market news from Monday made the rounds that co-founder Matt Meeker, who has been serving as executive chairman, will return to lead the purveyor of Bark Box.

Bark Stock News: a founder returns

The current CEO, Manish Joneja, has informed the board that he wishes to return to Seattle to be closer to family. The dog treat subscription company and pet ecommerce retailer is headquartered in New York.

BARK shares tanked in 2021, so investors can only hope that Tuesday's spike could lead to more gains this year. Since its IPO last June, when it traded near $11.15, BARK has lost 76% of its share price.

One thing that may have investors' eye is how cheap it is. Bark trades for 1.5 times the current fiscal year's revenue estimate of $514 million. The current fiscal year ends in March.

BARK sports three buy ratings from Citigroup, Cannacord Genuity and Jefferies with an average price target of $15.

BARK key statistics

Market Cap	$737 million
Price/Earnings	N/A
Price/Sales	1.5
Price/Book	N/A
Enterprise Value	$600 million
Operating Margin	-12%
Profit Margin	-11%
52-week high	$17.25
52-week low	$3.37
Short Interest	11%
Average Wall Street Rating and Price Target	Buy, $15

Bark Stock Forecast: $4.48 is key

Finding itself near all-time lows, BARK needs to close above $4.48, the swing high from January 3, if the market is going to take this turnaround seriously.

Despite the 20% run-up seen on Tuesday, BARK shares are yet to surmount the $4.48 high. However, there is a divergence on the Relative Strength Index (RSI) where the current price run has forced the RSI well above the hilltop from January 3. Divergences between the price chart and the RSI often signify a coming reversal.

If $4.48 can be achieved, then bulls will turn their eyes on $5.08, a resistance point from early December.

BARK 1-day chart

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Author

Clay Webster

FXStreet

Clay Webster grew up in the US outside Buffalo, New York and Lancaster, Pennsylvania. He began investing after college following the 2008 financial crisis.

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