Selected stock price target news of the day - February 27th, 2024

By: Matthew Otto

Domino’s Pizza Reports Q4 2023 Performance with Sales Growth and Expansion

Domino’s Pizza reported financials for the fourth quarter of 2023, with global retail sales growing by 4.9% excluding foreign currency impact. The U.S. segment achieved a 2.8% increase in same-store sales, propelled by a 2% surge in delivery and a 3.9% growth in carryout. The company added 92 net new stores in the U.S. during the quarter, bringing the total U.S. system store count to 6,854.

Internationally, Domino’s experienced a net store growth of 302 in the fourth quarter, contributing to a total of 702 net new stores for the entire year, excluding closures in the Russian market.

The company’s operating income increased by $8.4 million or 3.4% in Q4, excluding the impact of a prior re-franchising gain. For 2024, Domino’s anticipates a 7% or more growth in global retail sales, a U.S. comp above the 3% long-term guide, and a net store growth of 1,100 or more. Additionally, the company projects an 8% or more year-over-year increase in operating income.

Mixed Analyst Sentiment as Price Targets See Adjustments

Oppenheimer analyst Brian Bittner has reiterated an Outperform rating and raised the price target from $470 to $530.
Argus Research analyst John Staszak upgraded from Hold to Buy and maintained the price target at $530.
JP Morgan analyst John Ivankoe downgraded from Overweight to Neutral but raised the price target from $420 to $430.

Which Analyst has the best track record to show on DPZ?

Analyst Chris O’cull (STIFEL) currently has the highest performing score on DPZ with 22/23 (95.65%) price target fulfillment ratio. His price targets carry an average of $68.73 (17.13%) potential upside. Domino’s Pizza stock price reaches these price targets on average within 129 days.

Docebo Reports Financial Performance for Q4 2023, Showcasing Revenue Growth

Docebo delivered financial results for the fourth quarter and fiscal year ended December 31, 2023. During Q4 2023, the company witnessed a 28% surge in subscription revenue, amounting to $46.5 million, constituting 94% of the total revenue. The total revenue for the quarter reached $49.3 million, marking a 27% increase compared to the same period in the prior year. Gross profit in Q4 ascended to $40.0 million, reflecting a 27% rise from the corresponding period in the previous year, equivalent to 81.2% of total revenue.

For the entire fiscal year 2023, subscription revenue totaled $169.8 million, representing 94% of the total revenue and exhibiting a 29% growth from the previous year. The overall revenue for the fiscal year reached $180.8 million, signifying a 27% increase.

Docebo’s Annual Recurring Revenue stood at $194.3 million as of December 31, 2023, showcasing a 24% growth from the prior year. Despite the positive financial strides, the net income for the fiscal year was reported at $2.8 million, a decline from the $7.0 million recorded in the comparative period.

The company’s net dollar retention rate as of December 31, 2023, was 104%, showcasing a decrease from 109% at the end of December 31, 2022. Cash and cash equivalents at the close of 2023 were reported at $72.0 million, a decrease from $216.3 million in the previous year.

Analysts Upbeat: Price Targets Raised Following Performance

Goldman Sachs analyst Kevin Kumar maintained a Neutral rating and raised the price target from $44 to $55.
Scotiabank analyst Kevin Krishnaratne reiterated a Sector Outperform rating and increased the price target from $60 to $65.
Morgan Stanley analyst Josh Baer kept an Overweight rating and raised the price target from $63 to $67.

Which Analyst has the best track record to show on DCBO?

Analyst Joshua Jennings (TD COWEN) currently has the highest performing score on DCBO with 5/5 (100%) price target fulfillment ratio. His price targets carry an average of $7.35 (16.10%) potential upside. Docebo stock price reaches these price targets on average within 47 days.

Driven Brands Releases Fiscal Year 2023 Financials: Revenue Surges Amidst Challenges

Driven Brands Holdings has reported fiscal year 2023 financials, displaying a 13% surge in revenue to $2.3 billion. The company achieved a system-wide sales growth of 12%, amounting to $6.3 billion. The growth is driven by a combination of 7% same-store sales growth and a 4% increase in net store count. Driven Brands added a substantial 183 net new stores during fiscal 2023.

However, challenges in the Car Wash segment impacted the bottom line, resulting in a net loss of $745.0 million. This loss was primarily attributed to a non-cash goodwill impairment of $851.0 million in the Car Wash segment. Also with non-cash asset impairment charges and lease terminations totaling $132.9 million.

Adjusted metrics, such as Adjusted Net Income and Adjusted EPS, also witnessed declines of 25% and 24%, respectively, compared to the prior year. Despite these headwinds, the company’s Adjusted EBITDA demonstrated resilience, rising by 4% to reach $535.1 million.

Looking ahead to fiscal year 2024, Driven Brands forecasts revenue between $2.35 billion and $2.45 billion, with adjusted EBITDA expected to be in the range of $535 million to $565 million. The company aims for same-store sales growth of 3% to 5%, anticipating net new store growth of approximately 205 to 220 across its diverse segments.

Analysts Adjust Price Targets, Maintain Positive Outlooks

RBC Capital analyst Steven Shemesh maintained an Outperform rating and lowered the price target from $20 to $17.
Piper Sandler analyst Peter Keith reiterated an Overweight rating and downgraded the price target from $22 to $18.
Canaccord Genuity analyst Brian McNamara maintained a Buy rating and decreased the price target from $22 to $20.

Which Analyst has the best track record to show on DRVN?

Analyst Simeon Gutman (MORGAN STANLEY) currently has the highest performing score on DRVN with 3/11 (27.27%) price target fulfillment ratio. His price targets carry an average of $1 (7.69%) potential upside. Driven Brands Holdings stock price reaches these price targets on average within 72 days.