This is happening even as the company is seeing some improvement in the labor issues that beset its delivery business due to the pandemic. That will likely be confirmed when the next reading on the consumer price index (CPI) is released in May.Īnother reason the company cited for weak delivery numbers is that more consumers are returning to restaurants as pandemic restrictions are now lifted. The first reading on first quarter GDP showed a weakening economy. One issue is that they are still seeing weak recovery in the delivery business, particularly among lower income consumers who are opting to cook more meals at home to offset inflation. The company is forecasting growth for the year, albeit to the lower end of its guidance. The general sentiment of Domino’s management is that the short-term outlook is still presenting challenges for the company. Both are well above the consensus target of $354.51. And two of those price targets, specifically from BMO Capital Markets and Bank of America (NYSE: BAC) give the stock targets of $395 and $415. What are Analysts Saying?Īccording to MarketBeat, Domino’s Pizza analyst ratings as of April 30, five analysts have boosted their price targets for DPZ stock. This time around, analysts appear to be more bullish, which could make this a buy-the-dip opportunity. And at that time, analyst sentiment was bearish, with at least a half dozen analysts lowering their price targets for DPZ stock. However, if you bought the dip in February, you’d have ridden a gain of about 17% into earnings.
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