Bed Bath & Beyond (NASDAQ: BBBY) stock was up in pre-market trading on Thursday even as the omnichannel home and wellness products retailer reported disappointing Q2 results.
The company posted revenues of $1.44 billion in Q2, a drop of 28% year-over-year, falling short of analysts’ estimates by $10 million. Adjusted loss per share came in at $3.22 per share versus a profit of $0.04 in the same period last year. Analysts were expecting BBBY to report a loss of $1.79 per share in Q2.
Will BBBY Go Up?
Analysts expect BBBY stock to drop in the coming periods with a Strong Sell consensus rating and an average price target of $4.18 which indicates a 35.29% potential downside for the stock.
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