Five Below Analysts Increase Their Forecasts After Q3 Results
Portfolio Pulse from Lisa Levin
Five Below, Inc. (NASDAQ:FIVE) exceeded Q3 earnings and sales expectations, reporting earnings of 26 cents per share and sales of $736.40 million, against consensus estimates of 23 cents and $725.38 million, respectively. The company forecasts Q4 net sales between $1.32 billion and $1.35 billion, and full-year net sales between $3.54 billion and $3.57 billion. Following the earnings report, Wells Fargo, Citigroup, and Telsey Advisory Group raised their price targets for Five Below, with the stock rising 2.2% to $70.77.
November 30, 2023 | 2:34 pm
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POSITIVE IMPACT
Five Below's Q3 earnings beat and raised guidance led to increased price targets from Wells Fargo, Citigroup, and Telsey Advisory Group, with the stock price rising 2.2%.
The positive earnings report and raised guidance are significant indicators of company performance and are likely to instill investor confidence. The subsequent increase in price targets by reputable analysts further supports a positive outlook, contributing to the stock's rise. This trend may continue in the short term as the market reacts to the new information.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100