Urban Outfitters Inc. (NASDAQ:URBN) posted better-than-expected second-quarter results after Wednesday’s closing bell.
Urban Outfitters reported quarterly earnings of $1.58 per share, which beat the Street estimate of $1.48. Quarterly revenue came in at $1.5 billion, which beat the analyst estimate of $1.47 billion.
"We are proud to announce record revenues, profits, and earnings per share for the quarter," said Richard A. Hayne, CEO. "Our success was broad-based, with all five brands achieving positive comparable sales across all geographies."
Urban Outfitters shares fell 8% to $71.77 on Thursday.
These analysts made changes to their price targets on Urban Outfitters following earnings announcement.
- Telsey Advisory Group analyst Dana Telsey maintained Urban Outfitters with a Market Perform and raised the price target from $72 to $80.
- Wells Fargo analyst Ike Boruchow maintained the stock with an Equal-Weight rating and raised the price target from $70 to $75.
- B of A Securities analyst Lorraine Hutchinson maintained Urban Outfitters with a Buy and raised the price target from $90 to $93.
- Morgan Stanley analyst Alex Straton maintained the stock with an Overweight rating and raised the price target from $82 to $84.
Considering buying URBN stock? Here’s what analysts think:
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