Gap Analysts Boost Their Forecasts Following Earnings Beat
Portfolio Pulse from Avi Kapoor
Gap Inc. (NYSE:GPS) reported Q4 earnings that surpassed expectations with a revenue increase of 1% year-over-year to $4.30 billion and earnings of 49 cents per share, beating estimates. The company expects flat net sales for Q1 and full-year 2024 but anticipates margin expansion. Following the report, several analysts raised their price targets on Gap shares, which gained 1.4% to close at $19.33.
March 08, 2024 | 12:57 pm
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POSITIVE IMPACT
Gap Inc. reported better-than-expected Q4 earnings, leading to a positive stock price movement and raised price targets by analysts.
Gap's Q4 earnings beat and positive future margin expansion guidance likely contribute to investor optimism, reflected in the stock's price gain and analysts' raised price targets. This indicates a positive short-term impact on GPS stock.
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RELEVANCE 100