Unraveling the Tapestry: Analyst Perspectives and Projections
Over the past few months, analysts have shared a diverse range of opinions on Tapestry (NYSE:TPR), from optimistic to cautious. Here’s a snapshot of recent analyst insights and ratings:
– One analyst remains bullish on Tapestry, with their rating unchanged from a month ago.
– Six analysts are somewhat bullish, with no recent adjustments.
– Two analysts are indifferent, with one rating updated in the last 30 days.
– There have been no recent ratings in the somewhat bearish or bearish categories.
Looking at price targets, the average 12-month forecast for Tapestry is $48.44, ranging from a high of $60.00 to a low of $38.00. This represents a 20.35% increase from the previous average of $40.25.
Key analyst actions include:
– Ashley Helgans from Jefferies maintaining a “Hold” rating with a price target of $50.00.
– Brooke Roach at Goldman Sachs upgrading the rating to “Buy” with a price target of $47.00.
– Michael Binetti from Evercore ISI Group raising the rating to “Outperform” with a price target of $50.00.
– Ike Boruchow at Wells Fargo increasing the rating to “Overweight” with a price target of $60.00.
– Rick Patel from Raymond James upgrading the rating to “Outperform” with a price target of $44.00.
– Alexandra Steiger at Morgan Stanley maintaining an “Equal-Weight” rating with a price target of $38.00.
In addition to these insights, various sources like TipRanks, Nasdaq, MarketBeat, The Wall Street Journal, and MarketScreener offer further analysis on Tapestry’s stock forecast, analyst predictions, consensus ratings, and price targets. Notably, Tapestry has garnered an overall consensus rating of “Strong Buy” based on positive outlooks and buy ratings from analysts.
For a more in-depth look at individual analyst recommendations and historical stock performance, investors can consult these sources for a comprehensive understanding of Tapestry’s market position and potential investment opportunities.
Tapestry Inc. (TPR) Stock Market Performance Analysis – February 29, 2024
On February 29, 2024, Tapestry Inc. (TPR) showed a mixed performance in the stock market. TPR is currently trading near the top of its 52-week range and above its 200-day simple moving average, indicating a positive trend in the stock’s price momentum. However, on that particular day, TPR shares experienced a slight decrease in price. The stock opened at $47.42, which was $0.30 lower than its previous close. Throughout the trading day, the price of TPR shares dropped by $0.01, representing a 0.02% decrease from the previous closing price. While a small drop in price may not seem significant, it is essential for investors to closely monitor any fluctuations in stock prices. In this case, the slight decrease in TPR’s share price on February 29th could be attributed to various factors such as market volatility, economic indicators, or company-specific news. Investors and analysts will continue to keep a close eye on Tapestry Inc.’s stock performance in the coming days to assess whether the slight drop in price was an isolated event or part of a larger trend. It is important for investors to conduct thorough research and analysis before making any investment decisions.
Tapestry Inc. (TPR) Reports Strong Financial Results, Stock Surges on February 29, 2024
On February 29, 2024, Tapestry Inc. (TPR) saw a significant increase in its stock performance following the release of its financial results. Total revenue for the past year was $6.66 billion, remaining flat compared to the previous year but increasing by 37.75% since the last quarter to $2.08 billion.
Net income for the past year was $936.00 million, showing a 9.31% increase compared to the previous year, with second-quarter net income at $322.30 million, reflecting a substantial 65.28% increase since the last quarter.
Earnings per share (EPS) for the past year stood at $3.88, marking a 22.35% increase from the previous year, and second-quarter EPS was $1.39, showing a remarkable 65.85% increase since the last quarter.
Investors reacted positively to these results, leading to a surge in TPR stock prices on February 29, 2024. The strong performance in revenue, net income, and EPS demonstrated the company’s ability to drive growth and profitability despite challenging market conditions. This positive momentum bodes well for Tapestry Inc. as it continues to execute its strategic initiatives and expand its market presence. TPR stock showed strong performance on February 29, 2024, reflecting the company’s solid financial results and investor confidence in its future prospects.
