Barfresh Food Group (OTC:) Launches Pop & Go Freeze Pops, Analysts Bullish on Revenue Growth Potential
Greenridge Capital reaffirms Buy rating and $4.50 price target on Barfresh Food Group, Inc. (NASDAQ:OTC:) as the company introduces its new Pop & Go Freeze Pops line. With the capacity to produce up to 50 million units annually, Barfresh aims to target school lunch menus and meet USDA requirements.
The price target is based on an EV/Revenue multiple of 4x the firm's forward twelve-month revenue estimate of $16.0 million. The company's strategic move to cater to the USDA's meal program is expected to boost revenue in the current quarter. Barfresh anticipates record quarterly revenue in Q3 and the highest annual revenue for fiscal year 2024.
Despite a recent dip in Q2 revenue, Barfresh has invested in product expansion and production capacity. The company's management is confident in their strategic investments and product offerings, targeting a broader market. Investors should pay close attention to the upcoming third-quarter conference call for more insights on sales outlook and financial performance.
InvestingPro Insights:
- Barfresh's revenue growth of 18.54% over the last twelve months suggests a positive trajectory.
- Analysts anticipate sales growth in the current year, supported by the introduction of Pop & Go Freeze Pops.
- The company holds more cash than debt, providing financial flexibility for the new product line.
- Barfresh is not currently profitable, emphasizing the importance of upcoming financial updates.
In conclusion, Barfresh Food Group's strategic moves and product launches have the potential to drive revenue growth and market expansion. Investors should closely monitor the company's performance and financial updates for insights into its future prospects.