On Monday, Citi maintained its Buy rating and a $16.00 shares target for Herbalife (NYSE:) stock, following an analysis of web and app traffic data which may provide insights into the company’s sales trends.
The examination of traffic for myherbalife.com, herbalife.com, and the Herbalife Shop app was based on data from May 2024, as compiled by Citi’s Innovation Lab using Similarweb (NYSE:) and Sensor Tower sources.
The analysis highlighted that global web and app traffic trends for Herbalife in May were similar or slightly worse than those observed in April. Despite this, there was a notable improvement in the United States web traffic to myherbalife.com on a month-over-month basis for May. However, the trends for the Herbalife Shop app remained largely unchanged or marginally worse compared to the previous month.
In contrast, the traffic trends for the Herbalife Shop app in Mexico showed a deterioration when comparing May to April. Similarly, in India, the app’s traffic trends also weakened sequentially over the same period.
The data assessed by Citi suggests a mixed performance in terms of digital engagement for Herbalife across different regions. While the U.S. market showed positive movement in web traffic, the app’s usage in key international markets like Mexico and India experienced a decline. This information could potentially be indicative of varying sales leader and volume point trends across Herbalife’s global operations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
https://i-invdn-com.investing.com/news/news_six_pile_69x52._800x533_L_1419494215.jpg
Source link
Investing.com
