Rover Group price target raised to $10 from $8 at JMP Securities

JMP Securities raised the firm’s price target on Rover Group to $10 from $8 and keeps an Outperform rating on the shares. Rover is just 3% penetrated in its more than $25B TAM, while the firm’s analysis suggests that much of Rover’s uncaptured share remains offline or with friends and family as it leads competitors across all top-of-funnel metrics, the analyst tells investors in a research note. JMP is increasingly confident in sustained 20% growth for Rover.