Goldman Sachs analyst Kate McShane maintains $Topgolf Callaway Brands (MODG.US)$ with a hold rating, and adjusts the target price from $14 to $12.
According to TipRanks data, the analyst has a success rate of 59.6% and a total average return of 3.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Topgolf Callaway Brands (MODG.US)$'s main analysts recently are as follows:
The company's third-quarter revenue and adjusted EBITDA surpassed expectations, yet management has revised its guidance downward. This revision is due to a shift in the timing of shipments from the third to the fourth quarter, coupled with consumer activity in the third quarter that was more sluggish than anticipated. Additionally, same-venue sales growth for Topgolf experienced a sequential slowdown in the third quarter on both a one-year and two-year basis, with the deceleration being more pronounced in locations with three or more bays, although locations with one to two bays also saw a decrease in growth rate.
The assessment of Topgolf Callaway's third-quarter report has been characterized as 'mixed.' The noted decline in Topgolf's build is seen as a cautionary indicator for future performance.
Note:
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