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Five Below Analysts Increase Their Forecasts After Q3 Results

Published 30/11/2023, 14:34
© Reuters.  Five Below Analysts Increase Their Forecasts After Q3 Results
FIVE
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Benzinga - by Lisa Levin, Benzinga Editor.

Five Below, Inc. (NASDAQ: FIVE) reported better-than-expected third-quarter earnings.

Five Below reported quarterly earnings of 26 cents per share which surpassed the analyst consensus estimate of 23 cents. The company reported quarterly sales of $736.40 million, exceeding the analyst expectations of $725.38 million.

Five Below said it estimates fourth-quarter net sales to be between $1.32 billion and $1.35 billion. The company also sees full-year net sales between $3.54 billion and $3.57 billion.

Five Below shares rose 2.2% to trade at $70.77 on Thursday.

These analysts made changes to their price targets on Five Below following earnings announcement.

  • Wells Fargo increased the price target on Five Below from $205 to $215. Wells Fargo analyst George Kelly maintained an Overweight rating.
  • Citigroup raised the price target on Five Below from $220 to $227. Citigroup analyst Paul Lejuez maintained a Buy rating on the stock.
  • Telsey Advisory Group analyst Joseph Feldman, meanwhile, reiterated Five Below with an Outperform and maintained a $220 price target.
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Latest Ratings for FIVE

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Mar 2022UBSUpgradesNeutralBuy
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© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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