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Why Urban Outfitters Stock Zoomed Higher Thursday
At 15x earnings and 15% projected growth, Urban Outfitters stock looks like a buy.
Urban Outfitters (NASDAQ: URBN) stock exploded 21.4% higher through 11 a.m. ET Thursday after demolishing Q1 earnings forecasts last night.
Heading into the report, Wall Street analysts forecast Urban Outfitters would earn only $0.83 on less than $1.3 billion in Q1 sales. In fact, the retailer earned $1.16 per share on sales of more than $1.3 billion.
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