Piper Jaffray Companies Reiterates $24.00 Price Target for Funko (FNKO)

Piper Jaffray Companies set a $24.00 price target on Funko (NASDAQ:FNKO) in a research report sent to investors on Wednesday. The brokerage currently has a buy rating on the stock. Piper Jaffray Companies also issued estimates for Funko’s Q1 2020 earnings at $0.14 EPS, Q2 2020 earnings at $0.16 EPS and Q3 2020 earnings at $0.33 EPS.

FNKO has been the subject of a number of other reports. Jefferies Financial Group set a $20.00 price objective on shares of Funko and gave the stock a buy rating in a research note on Tuesday, July 24th. Zacks Investment Research raised shares of Funko from a hold rating to a buy rating and set a $22.00 price objective for the company in a research note on Friday, October 5th. BMO Capital Markets raised their price objective on shares of Funko from $8.00 to $10.50 and gave the stock a market perform rating in a research note on Monday, August 13th. JPMorgan Chase & Co. raised their price objective on shares of Funko from $14.00 to $24.00 and gave the stock an overweight rating in a research note on Friday, August 10th. Finally, Stifel Nicolaus raised their price objective on shares of Funko from $12.00 to $20.00 and gave the stock a buy rating in a research note on Friday, August 3rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Funko currently has a consensus rating of Buy and an average price target of $18.89.

Shares of Funko stock opened at $15.59 on Wednesday. Funko has a 12-month low of $5.81 and a 12-month high of $31.12. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 0.99. The stock has a market capitalization of $756.93 million and a price-to-earnings ratio of 27.95.

Funko (NASDAQ:FNKO) last issued its earnings results on Thursday, November 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.04. Funko had a net margin of 1.55% and a return on equity of 10.69%. The company had revenue of $176.90 million during the quarter, compared to analysts’ expectations of $166.07 million. During the same period last year, the company posted $0.04 earnings per share. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, sell-side analysts predict that Funko will post 0.71 earnings per share for the current year.

In related news, President Andrew Mark Perlmutter sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $20.02, for a total transaction of $1,101,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tracy D. Daw sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $20.36, for a total transaction of $203,600.00. The disclosure for this sale can be found here. Company insiders own 18.39% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in Funko by 22.0% during the third quarter. BlackRock Inc. now owns 683,376 shares of the company’s stock worth $16,190,000 after acquiring an additional 123,016 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Funko during the third quarter worth approximately $12,615,000. Vanguard Group Inc. boosted its position in Funko by 17.5% during the third quarter. Vanguard Group Inc. now owns 469,556 shares of the company’s stock worth $11,123,000 after acquiring an additional 70,085 shares during the last quarter. Feinberg Stephen acquired a new stake in Funko during the second quarter worth approximately $2,242,000. Finally, SG Americas Securities LLC acquired a new stake in Funko during the third quarter worth approximately $4,125,000. Hedge funds and other institutional investors own 38.94% of the company’s stock.

Funko Company Profile

Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, China, Vietnam, and the United Kingdom. The company offers vinyl, bobble head, blind-packed miniature, and action figures; and plush products, accessories, apparels, and homewares, as well as bags, purses, and wallets.

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Analyst Recommendations for Funko (NASDAQ:FNKO)

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