UPDATE: Baird Starts Enjoy Technology Inc. (ENJY) at Neutral
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Baird analyst William Power initiates coverage on Enjoy Technology Inc. (NASDAQ: ENJY) with a Neutral rating and a price target of $11.00.
The analyst comments "Positive on market position and strong growth opportunity. Enjoy is pioneering the mobile store, with a focus on extending e-commerce from "to the door" to "through the door" to drive greater customer satisfaction and sales opportunities. With key strategic initial partnerships, leading technology and a strong management team, we forecast rapid revenue growth over the next several years. However, while positive on the long-term growth opportunity and strong market position, we fear the current Apple supply constraints could pose a risk to near-term guidance and estimates, driving our Neutral rating."
Shares of Enjoy Technology Inc. closed at $10.65 yesterday.
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