Flowers (FLWS) Pulls Back After Month-Long Tear North $4
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After tapping fresh highs above $4, shares of 1-800-Flowers.com Inc. (Nasdaq: FLWS) pulled back and closed at $3.92 on Wednesday.
Over the past month, shares of 1-800-Flowers.com Inc. (Nasdaq: FLWS) have gained 24.75 percent. The rally began in late June after analyst Daniel L. Kurnos of Benchmark predicted FY13 revenues growing 6% year-over-year to $767 million and EPS of $0.24.
In his comments, Kurnos said he believed 1-800-Flowers.com Inc. (Nasdaq: FLWS) has manufactured a number of avenues through which it can achieve better-than-industry average growth. He also said he thinks the total company can maintain sustainable revenue growth in the mid- to high-single digits.
Given the significant gains in the stock, investors have obviously sided with Kurnos. However, today's pull back and close below $4 may signal an end to the stock's ballistic trajectory of late, although the stock could have further upside potential, albeit at a more tempered pace.
Over the past month, shares of 1-800-Flowers.com Inc. (Nasdaq: FLWS) have gained 24.75 percent. The rally began in late June after analyst Daniel L. Kurnos of Benchmark predicted FY13 revenues growing 6% year-over-year to $767 million and EPS of $0.24.
In his comments, Kurnos said he believed 1-800-Flowers.com Inc. (Nasdaq: FLWS) has manufactured a number of avenues through which it can achieve better-than-industry average growth. He also said he thinks the total company can maintain sustainable revenue growth in the mid- to high-single digits.
Given the significant gains in the stock, investors have obviously sided with Kurnos. However, today's pull back and close below $4 may signal an end to the stock's ballistic trajectory of late, although the stock could have further upside potential, albeit at a more tempered pace.
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