Freshpet Analysts Increase Their Forecasts After Upbeat Q4 Earnings

Freshpet Inc. (NASDAQ:FRPT) posted mixed results for the fourth quarter on Monday.

Net sales increased 8.6% to $285.2 million from $262.7 million a year earlier, driven by 9.7% volume growth and partially offset by a 1.1% unfavorable price/mix impact. Freshpet reported fourth-quarter earnings of 64 cents per share, topping the 59-cent estimate, while revenue of $285.229 million narrowly missed the $285.702 million consensus estimate.

CEO Billy Cyr said, "Fiscal year 2025 taught us some very important lessons and challenged the resilience of our business and our organization. In the end, our team demonstrated tremendous agility – delivering growth well in excess of the dog food category, surpassing $1 billion in net sales for the first time, expanding margins and achieving positive free cash flow."

For 2026, Freshpet forecast net sales growth of 7% to 10% and adjusted EBITDA of $205 million to $215 million, and said it expects "Positive free cash flow with capital expenditures of ~$150 million."

Freshpet forecasts fiscal 2026 sales of $1.179 billion to $1.212 billion, compared with an estimate of $1.206 billion.

Freshpet shares rose 0.8% to trade at $79.25 on Tuesday.

These analysts made changes to their price targets on Freshpet following earnings announcement.

• Morgan Stanley analyst Eric Serotta upgraded Freshpet from Equal-Weight to Overweight and raised the price target from $71 to $90.
• Benchmark analyst Todd M. Brooks maintained the stock with a Buy and raised the price target from $80 to $90.
• Stifel analyst Matthew Smith maintained Freshpet with a Buy and raised the price target from $65 to $84.
• TD Cowen analyst Robert Moskow maintained the stock with a Hold and raised the price target from $61 to $80.

Considering buying FRPT stock? Here’s what analysts think:

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