Noble Financial maintains its Hold rating on PetMed Express, Inc. (Nasdaq: PETS) following recent quarterly results.

Analyst Michael Kupinski noted the following points from PetMed's Q4:

• The quarter was adversely affected by wintry weather, but we believe that strong competition, a weak creative advertising campaign, and consumer indifference to heavy promotions played a role in the revenue weakness

• Higher customer acquisition costs, up 11% YoY, reflects increased rates for television remnant advertising, which is likely to continue to rise; a potential problem for PETS' reorder sales

• We believe that the company does not have good momentum heading into a flea and tick season that may be soft due to weather conditions, heavy promotions from competitors, and a change in its creative

• Shares reacted favorably, likely due to short covering; fundamentals appear to be challenged and we expect that the shares will be range-bound in the $12 - $15 range given the lack of revenue visibility

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

Shares of PetMed Express closed at $12.66 yesterday.