PetMed Express price target lowered to $7 from $9 at Lake Street

Lake Street analyst Ryan Meyers lowered the firm’s price target on PetMed Express to $7 from $9 and keeps a Buy rating on the shares after the company reported Q4 results and did not provide guidance for FY25. The firm thinks the macro environment and competitive pressures are likely driving weakness across the base business and revised estimates lower given the expected softness in the core PetMeds business, the analyst tells investors in a post-earnings note.