Why Is Urban Outfitters (URBN) Stock Rocketing Higher Today [Yahoo! Finance]
Urban Outfitters, Inc. (URBN)
Last urban outfitters, inc. earnings: 3/3 04:10 pm
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US:NASDAQ Investor Relations:
investor.urbn.com/investor-relations
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Source: Yahoo! Finance
Urban Outfitters beat analysts' sales expectations. The top line reflected strengths across retail, subscription, and wholesale segments. The company recorded a significant increase in gross profit margin, reflecting higher merchandise markups and lower markdowns in key brands. This enabled URBN also beat on profit and earnings. Zooming out, we think this was a solid quarter. Following the results, Citi analyst Paul Lejuez upgraded the stock's rating from Neutral to Buy and raised his price target from $42 to $59. The analyst cited the reasons for the upgrade, adding that while 3Q's comparable sales were weak overall, there were several signs that the brand is moving in the right direction: 1. Profitability improved for the first time in many quarters. 2. Comps/traffic improved sequentially throughout 3Q and exited the quarter in better shape. Is now the time to buy Urban Outfitters? Access our full analysis report here, it's free Urban Outfitters's shares are not very volatile
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URBN
Earnings
- 11/26/24 - Beat
URBN
Sec Filings
- 12/10/24 - Form 10-Q
- 11/27/24 - Form 8-K
- URBN's page on the SEC website