Analysts have expressed elevated pessimism about Grove Collaborative Holdings, signaling a difficult 12 months forward as they lower their income forecasts and value goal for the corporate. On Tuesday, projections for 2024 had been significantly revised downward, with analysts now anticipating revenues to succeed in solely $253 million, marking a 7.4% decline from the earlier 12 months. This adjustment represents a big drop from the sooner forecast of $287 million.
In a transfer reflecting this bearish outlook, analysts have additionally lowered the worth goal for Grove Collaborative Holdings to $3.00, a discount of seven.7%. This revision underscores rising considerations over the corporate’s valuation in gentle of its historic efficiency, which has seen revenues decline at a median fee of 12% yearly over the previous three years.
The downward revision in income projections for Grove Collaborative Holdings stands in stark distinction to the broader trade traits. Whereas the corporate braces for a lower in revenues, analysts anticipate corporations throughout the identical sector to expertise an mixture annual income progress of 5.7%. This disparity means that Grove Collaborative could underperform relative to its trade friends within the coming 12 months.
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