Urban Outfitters Inc (NASDAQ:URBN) reported better-than-expected earnings for the first quarter on Wednesday.



The company posted quarterly earnings of $1.30 per share which beat the analyst consensus estimate of $1.16 per share. The company reported quarterly sales of $1.481 billion which beat the analyst consensus estimate of $1.449 billion.



“We are pleased to report record first quarter sales and earnings driven by positive retail segment ‘comps’ at all brands and impressive double-digit growth in both our Wholesale and Subscription segments,” said Richard A. Hayne, Chief Executive Officer. “Our customers remain engaged and are responding to compelling fashion trends, giving us confidence in URBN’s continued success.”



Urban Outfitters shares fell 0.5% to trade at $71.30 on Thursday.



These analysts made changes to their price targets on Urban Outfitters following earnings announcement.



<ul>
<li>B of A Securities analyst Lorraine Hutchinson maintained the stock with a Buy and raised the price target from $85 to $90.</li>



<li>JP Morgan analyst Matthew Boss maintained the stock with an Overweight rating and raised the price target from $94 to $97.</li>
</ul>



Considering buying URBN stock? Here’s what analysts think: 



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Photo via Shutterstock

URBN

IBUY

ONLN

Urban Outfitters (URBN) reported Q1 earnings of $1.30 per share, surpassing estimates of $1.16, with sales of $1.481 billion exceeding the $1.449 billion forecast. Analysts raised price targets, with B of A Securities increasing it from $85 to $90 and JP Morgan from $94 to $97. Despite the positive results, URBN shares fell 0.5% to $71.30.

benzinga_article

Urban Outfitters

VanEck Retail ETF

Amplify Online Retail ETF

ProShares Online Retail

SPDR S&P Retail ETF

Bank of America

JPMorgan Chase

Shutterstock

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L

BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200 PFD SER 4 USD25

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

Bank of America Corp

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

These Analysts Boost Their Forecasts On Urban Outfitters After Upbeat Q1 Results