Urban Outfitters Posts Q1 Sales Beat: 3 Analysts Revise Forecasts As Stock Continues To ‘Meaningfully Lag’
Shares of Urban Outfitters, Inc. (NASDAQ:URBN) tanked in early trading on Wednesday, even after the company reported better-than-expected results for its first quarter.
The results came amid an exciting earnings season. Here are some key analyst takeaways.
- JPMorgan analyst Matthew Boss reaffirmed a Neutral rating, while reducing the price target from $44 to $43.
- Telsey analyst Dana Telsey reiterated an Outperform rating, while raising the price target from $48 to $49.
- BMO Capital Markets analyst Simeon Siegel maintained a Market Perform rating and price target of $42.
Check out other analyst stock ratings.
JPMorgan: Urban Outfitters reported its adjusted earnings at 69 cents per share, higher than the Street’s 52 cents per share estimate, with 5% same-store sales growth versus consensus of 3.3%.
The company’s adjusted gross margin expanded by 105 basis points (bps) year-on-year to 34.4%, beating expectations of 33.6%, he added.
The same-store sales outperformance was driven by “continued double-digit comp growth at Anthro …
Full story available on Benzinga.com