Bowlero Corp. Class A Exhibits Strengthening Foot Traffic, Justifying a Buy Rating

Jefferies analyst Randal Konik maintained a Buy rating on Bowlero Corp. Class A (BOWL – Research Report) today and set a price target of $29.00.

Randal Konik’s rating is based on a discernible improvement in Bowlero Corp. Class A’s foot traffic data, which indicates a positive trend in customer visits. The data shows a decrease in the year-over-year (YoY) decline in visits during April, which is a significant recovery from the steeper declines observed in the preceding months. Specifically, April’s decline was only 1.0% compared to March’s 3.9% and February’s 6.7%. Moreover, when looking at a two-year stack comparison, April’s foot traffic grew by 5.4%, demonstrating resiliency and an upward momentum for Bowlero Corp.

The Buy rating is further supported by the company’s ability to maintain positive growth over a two-year period, despite the challenges posed in the shorter term. This longer-term perspective underscores the company’s strength and potential for sustained success. Konik’s analysis, therefore, considers both the recent improvements and the overall positive trajectory when compared to the past two years, suggesting confidence in Bowlero Corp.’s ability to attract customers and drive growth, which justifies the Buy recommendation.

In another report released on May 10, Craig-Hallum also assigned a Buy rating to the stock with a $18.00 price target.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BOWL in relation to earlier this year.

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Bowlero Corp. Class A (BOWL) Company Description:

Isos Acquisition Corp is a blank check company.