UPDATE: Cowen Downgrades Poshmark (POSH) to Market Perform

Cowen analyst Oliver Chen downgraded Poshmark (NASDAQ: POSH) from Outperform to Market Perform with a price target of $22.00 (from $42.00).

The analyst comments "We move to the sidelines as we expect the stock could be range-bound with a lack of positive catalysts in the near term. Elevated marketing costs, strategic investments in brand building, and slower than expected international market growth could weigh on top- and bottom-line results in FY22. We believe it may take several quarters to drive upside and risk is apparent."

For an analyst ratings summary and ratings history on Poshmark click here. For more ratings news on Poshmark click here.

Shares of Poshmark closed at $20.77 yesterday.

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