Ollie's Bargain Outlet Analysts Boost Their Forecasts After Upbeat Earnings
Portfolio Pulse from Lisa Levin
Ollie's Bargain Outlet Holdings Inc (NASDAQ:OLLI) reported better-than-expected Q2 results and raised its FY23 guidance. The company reported a 13.7% Y/Y sales growth to $514.5 million, beating the consensus of $499.0 million. Adjusted EPS of $0.67 also beat the analyst consensus of $0.61. For FY23, Ollie's increased its net sales outlook to $2.076 billion - $2.091 billion from $2.052 billion-$2.067 billion. Following the earnings announcement, Keybanc and Goldman Sachs increased their price targets on Ollie's Bargain Outlet.
September 01, 2023 | 1:01 pm
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POSITIVE IMPACT
Ollie's Bargain Outlet reported better-than-expected Q2 results and raised its FY23 guidance, leading to an increase in price targets by Keybanc and Goldman Sachs.
Ollie's Bargain Outlet reported strong Q2 results and raised its FY23 guidance, which is a positive signal for the company's future performance. This led to an increase in price targets by Keybanc and Goldman Sachs, indicating a positive outlook for the stock. Therefore, the stock price is likely to go up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100