These Analysts Slash Their Forecasts On Five Below
Portfolio Pulse from Avi Kapoor
Five Below Inc (NASDAQ:FIVE) announced a CEO transition and updated guidance for Q2. Joel Anderson stepped down as CEO, with Kenneth Bull named interim CEO. The company reported a 9.5% increase in total sales but a 5% drop in comparable sales. Analysts downgraded the stock and slashed price targets.
July 17, 2024 | 12:55 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Five Below announced a CEO transition and updated Q2 guidance, reporting a 9.5% increase in total sales but a 5% drop in comparable sales. Analysts downgraded the stock and slashed price targets.
The CEO transition and mixed sales results have led to analyst downgrades and significant cuts in price targets, indicating potential short-term downward pressure on the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100