DA Davidson Forecasts Strong Price Appreciation for Funko (NASDAQ:FNKO) Stock

Funko (NASDAQ:FNKO) had its price target raised by DA Davidson from $13.00 to $16.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s target price would suggest a potential upside of 43.11% from the company’s current price. DA Davidson also issued estimates for Funko’s Q4 2024 earnings at ($0.03) EPS.

Other equities research analysts have also issued reports about the company. B. Riley raised their price target on Funko from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Stifel Nicolaus lifted their target price on Funko from $9.00 to $10.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd.

Funko Trading Down 8.5 %

Shares of FNKO traded down $1.04 during midday trading on Friday, hitting $11.18. The stock had a trading volume of 2,031,731 shares, compared to its average volume of 365,603. The stock’s 50 day moving average is $11.60 and its 200 day moving average is $9.92. The firm has a market cap of $603.05 million, a PE ratio of -23.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.59. Funko has a 1 year low of $5.36 and a 1 year high of $12.61.

Funko (NASDAQ:FNKO) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.25. Funko had a negative net margin of 4.06% and a negative return on equity of 4.69%. The company had revenue of $247.70 million for the quarter, compared to analyst estimates of $231.04 million. During the same period in the prior year, the company posted ($0.53) EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, analysts forecast that Funko will post -0.21 EPS for the current fiscal year.

Insider Activity at Funko

In other Funko news, insider Andrew David Oddie sold 10,800 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $12.03, for a total transaction of $129,924.00. Following the transaction, the insider now directly owns 40,372 shares in the company, valued at $485,675.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Funko news, insider Andrew David Oddie sold 10,800 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $12.03, for a total transaction of $129,924.00. Following the transaction, the insider now directly owns 40,372 shares in the company, valued at $485,675.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tracy D. Daw sold 10,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.00, for a total transaction of $120,000.00. Following the completion of the sale, the insider now owns 6,362 shares of the company’s stock, valued at approximately $76,344. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,805 shares of company stock worth $415,169. Company insiders own 4.81% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. California State Teachers Retirement System grew its stake in Funko by 4.5% in the first quarter. California State Teachers Retirement System now owns 33,179 shares of the company’s stock valued at $207,000 after purchasing an additional 1,414 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Funko by 3.7% in the 1st quarter. BNP Paribas Financial Markets now owns 66,269 shares of the company’s stock worth $414,000 after buying an additional 2,342 shares during the last quarter. Quest Partners LLC bought a new position in shares of Funko during the 2nd quarter worth approximately $25,000. Price T Rowe Associates Inc. MD lifted its position in Funko by 7.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,335 shares of the company’s stock valued at $246,000 after acquiring an additional 2,689 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Funko by 9.0% in the second quarter. Rhumbline Advisers now owns 54,180 shares of the company’s stock valued at $529,000 after acquiring an additional 4,475 shares in the last quarter. 99.15% of the stock is owned by institutional investors.

About Funko

Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, Europe, and internationally. The company provides media and entertainment content, including movies, television (TV) shows, video games, music, and sports; figures, handbags, backpacks, wallets, apparel, accessories, plush products, homewares, and digital non-fungible tokens; and art prints and vinyl records, posters, soundtracks, toys, books, games, and other collectibles.