Is It Time to Sell Starbucks Stock?
The coffee giant Starbucks (NASDAQ: SBUX) is one of the most recognizable brands in the world. Its stores populate city blocks across the globe, and its drinks are cultural markers of the changing of the seasons -- pumpkin spice latte, anyone?
Despite coffee retail market dominance, Starbucks ran into some trouble recently. The company's stock declined steadily for the last year, down roughly 21% since last May. If there was any hope that would change in the short term, those hopes were dashed when Starbucks released its Q2 numbers. The release was a "stunning across-the-board miss on all key metrics," according to William Blair analyst Sharon Zackfia.
As the analyst stated, the numbers missed across the board, but they can be summed up in the company's shrinking sales. Total net revenue for the company dropped this quarter, which hasn't happened since 2020, when stores were shuttered due to the COVID-19 pandemic. Take a look at the strong year-over-year growth for Q2 between 2021 and 2023 in the table below.
Source Fool.com
Starbucks Corp. Stock
Currently there is a rather positive sentiment for Starbucks Corp. with 40 Buy predictions and 6 Sell predictions.
With a target price of 97 € there is a slightly positive potential of 4.28% for Starbucks Corp. compared to the current price of 93.02 €.
