UPDATE: Loop Capital Downgrades SmileDirectClub Inc. (SDC) to Hold

June 23, 2021 6:44 AM EDT
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Price: $6.49 -3.13%

Rating Summary:
    3 Buy, 8 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 9 | New: 24
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(Updated - June 23, 2021 7:02 AM EDT)

Loop Capital analyst Laura Champine downgraded SmileDirectClub Inc. (NASDAQ: SDC) from Buy to Hold with a price target of $9.00 (from $14.00).

The analyst comments "Downgrading to Hold on Increased Execution Concerns...We are lowering our rating from Buy to Hold on Smile Direct Club and lowering our price target from $14 to $9. We are adjusting our estimates lower to account for what we see as an inflationary environment for everything from shipping to digital marketing. Our sales estimate is basically in line with consensus in the current quarter and Q3, but we are below consensus starting in Q4 as we expect SDC to focus more on profitability than top line growth. Our bottom-line cuts are more extensive, as we see pressure on gross margin, marketing, and G&A expense relative to our prior estimates."

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

Shares of SmileDirectClub Inc. closed at $9.00 yesterday.


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