These Analysts Slash Their Forecasts On Lululemon After Q4 Results
Portfolio Pulse from Avi Kapoor
Lululemon Athletica Inc. (NASDAQ:LULU) reported Q4 results surpassing expectations with a 16% year-over-year revenue increase to $3.205 billion and earnings of $5.29 per share. However, the company provided a weaker than expected forecast for Q1, expecting revenue between $2.175 billion to $2.2 billion and earnings per share of $2.35 to $2.40, below estimates. Following the announcement, Lululemon shares fell 13.7% in pre-market trading. Analysts from TD Cowen and Needham adjusted their price targets on Lululemon, maintaining positive ratings.
March 22, 2024 | 12:01 pm
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Lululemon reported higher than expected Q4 earnings and revenue but provided a weaker Q1 forecast, leading to a 13.7% drop in pre-market shares. Analysts adjusted price targets while maintaining positive outlooks.
Despite surpassing Q4 expectations, Lululemon's weaker Q1 forecast has led to a significant pre-market stock price drop. Analysts' adjustments to price targets, despite maintaining positive ratings, indicate concerns about short-term performance but long-term optimism.
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