With a stock price of $1.55, Zevia PBC (NYSE:ZVIA) is among the 8 Best Up and Coming Penny Stocks to Buy Now.
Zevia PBC (NYSE:ZVIA) came under pressure after Telsey Advisory analyst Dana Telsey reduced her price target on the stock to $3 from $5 on May 7 while maintaining a Market Perform rating
The analyst described the company’s first-quarter results as mixed, noting that revenue declined roughly 10% year over year and adjusted EBITDA came in weaker than expected. Concerns were also raised about the company’s near-term execution, with the firm suggesting that improvements in go-to-market strategy and operational performance will be necessary to support stronger growth. The day before, Zevia PBC (NYSE:ZVIA) provided updated financial guidance that fell below market expectations.
Management forecast full-year net sales of between $158 million and $166 million and projected second-quarter revenue in the range of $38 million to $40 million, compared with analyst consensus estimates of $46.33 million. While the outlook reflects a cautious near-term operating environment, it also provides investors with greater visibility into management’s expectations as the company works through current business challenges. Zevia PBC (NYSE:ZVIA) is a beverage company headquartered in Encino, California, and was founded in 2007.