Urban Outfitters Posts Q1 Sales Beat: 3 Analysts Revise Forecasts As Stock Continues To 'Meaningfully Lag'
Portfolio Pulse from Priya Nigam
Urban Outfitters (NASDAQ: URBN) reported better-than-expected Q1 results, with adjusted earnings of 69 cents per share and 5% same-store sales growth. Despite this, the stock fell 3.97% in early trading. Analysts from JPMorgan, Telsey, and BMO Capital Markets provided mixed ratings and price targets, citing factors like gross margin expansion and markdown pressures.
May 22, 2024 | 4:52 pm
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Urban Outfitters reported better-than-expected Q1 results, including adjusted earnings of 69 cents per share and 5% same-store sales growth. Despite this, the stock fell 3.97% in early trading. Analysts provided mixed ratings and price targets, with concerns about markdown pressures and gross margin guidance.
Despite strong Q1 results, the stock fell due to concerns about future markdown pressures and mixed analyst ratings. This suggests a neutral short-term impact as positive earnings are offset by future uncertainties.
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