The survey revealed no significant change in price perception, digital coupon use, and Instacart. However, customer satisfaction for Whole Foods shoppers remains high despite an FDA-warning letter and cost-cutting measures in stores. The analyst remains concerned about the company’s comps, pointing to competition. In turn, this poses a risk to the company’s valuation.
Bania reiterates an Underperform rating for the company with a $23 price target.
According to TipRanks, 4 analysts are bullish on the company, 4 are neutral, and 2 are neutral. The average 12-month price target between these 10 analysts is $34, marking a slight downside from current levels.