These Analysts Increase Their Forecasts On Torrid After Upbeat Q3 Results
Portfolio Pulse from Avi Kapoor
Torrid Holdings Inc. (NYSE:CURV) reported Q3 results with net sales of $275.4 million, surpassing the consensus of $245.8 million, and a smaller EPS loss than expected. The company raised its FY23 revenue guidance to $1.125-$1.140 billion, above the $1.09 billion estimate, and adjusted EBITDA to $99-$103 million. Following the announcement, Torrid's shares surged by 20.7%. Morgan Stanley and Telsey Advisory Group both increased their price targets for Torrid.
December 08, 2023 | 5:55 pm
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Torrid Holdings reported strong Q3 results with higher net sales and a reduced EPS loss, leading to a raised FY23 guidance and a significant share price increase. Analysts have responded positively by raising price targets.
The positive earnings report and raised guidance indicate a strong performance and outlook for Torrid, which typically results in increased investor confidence and can lead to a short-term rise in stock price. The upgrades from analysts further support this positive momentum.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100