These Analysts Raise Their Forecasts On Torrid Holdings After Q4 Results
Portfolio Pulse from Avi Kapoor
Torrid Holdings Inc. (NYSE:CURV) reported Q4 financial results surpassing expectations with a GAAP loss of 4 cents per share against an expected 7 cents loss and sales of $293.5 million against estimates of $274.827 million. CEO Lisa Harper highlighted improvements in business fundamentals and positive customer response to new merchandise collections. Despite exceeding guidance, Torrid's shares fell 3.7% after projecting Q1 and FY24 sales below market estimates. Telsey Advisory Group and Goldman Sachs raised their price targets on Torrid following the earnings announcement.
April 01, 2024 | 6:44 pm
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Torrid Holdings Inc. reported better-than-expected Q4 results but projected lower future sales, leading to a 3.7% drop in shares. Analysts from Telsey Advisory Group and Goldman Sachs raised their price targets.
Despite surpassing Q4 expectations, Torrid's shares fell due to lower-than-expected future sales projections. The adjustments in price targets by Telsey Advisory Group and Goldman Sachs reflect a positive outlook from analysts despite the short-term stock price decline.
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