Some recent WTW news has Weight Watchers stock down on Tuesday.
The WTW news that is dragging Weight Watchers (NASDAQ:WTW) stock down today is a downgrade. This downgrade comes from JP Morgan analyst Christina Brathwaite. This has the analyst dropping the company to an “Underweight” rating.
The WTW news about the downgrade also includes a new price target for Weight Watchers stock. This new price target is $25. The previous price target from the JP Morgan analyst was $37. WTW stock was trading at $30.28 when the markets close don Friday, which was the last day of trading prior to the downgrade, Marketwatch notes.
Brathwaite’s reason for dropping Weight Watchers and lowering her price target has to do with user numbers. She claims that the company is seeing a decline of daily active users, which isn’t good news for the company.
Brathwaite isn’t the only analyst to recently drop their price target for Weight Watchers stock. Oppenheimer analyst Brian Nagel also did the same on Friday. This had the analyst dropping his price target for WTW shares to $40 His previous price target for the stock was much higher at $98. Nagel also has concerns about the decreasing number of daily active users for the weight loss company, reports CNN.
WTW stock was down 3% as of Tuesday afternoon and is down 24% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.