These Analysts Revise Their Forecasts On Ollie's Bargain Outlet Following Q4 Results
Portfolio Pulse from Avi Kapoor
Ollie's Bargain Outlet Holdings Inc (NASDAQ:OLLI) reported Q4 FY23 earnings surpassing expectations but slightly missed sales forecasts. The company anticipates FY24 adjusted EPS of $3.10-$3.20 and sales of $2.248-$2.273 billion, both below consensus estimates. Following the announcement, OLLI shares rose by 4.9%. Analysts from JP Morgan, Goldman Sachs, Craig-Hallum, and Truist Securities adjusted their price targets on OLLI, with varying degrees of optimism.
March 21, 2024 | 7:03 pm
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Ollie's Bargain Outlet reported better-than-expected Q4 earnings but missed sales estimates. FY24 guidance below consensus. Shares rose 4.9%. Analysts adjusted price targets.
The positive earnings report and subsequent share price increase indicate a short-term bullish sentiment. However, the lower-than-expected FY24 guidance could temper long-term expectations. Analysts' adjustments to price targets reflect a mixed but generally optimistic view, likely contributing to short-term trading volatility.
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