Urban Outfitters, Inc. URBN reported better-than-expected results for its first quarter.
Urban Outfitters reported a sales increase of 6% Y/Y to $1.11 billion, beating the analyst consensus of $1.09 billion. EPS of $0.56 beat the consensus of $0.35.
The company also said inventory fell 6.3% year-over-year during the period.
Urban Outfitters shares jumped 13.7% to $30.31 in today’s pre-market trading session.
- Telsey Advisory Group raised the price target on Urban Outfitters from $34 to $35. Telsey Advisory Group analyst Dana Telsey maintained an Outperform rating.
- Citigroup boosted the price target on Urban Outfitters from $32 to $36. Citigroup analyst Paul Lejuez maintained a Buy rating.
- Wells Fargo raised Urban Outfitters price target from $25 to $30. Wells Fargo analyst Ike Boruchow maintained an Equal-Weight rating.
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