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On Tuesday, BTIG analysts reaffirmed their Buy rating and maintained a $200 price target for Boot Barn stock (NYSE: NYSE:BOOT), well above the current price of $157.51. According to InvestingPro data, seven analysts have recently revised their earnings upwards for the upcoming period. The decision follows Boot Barn’s preliminary fiscal first-quarter update, which showed comparable sales accelerating beyond the company’s guidance.
The analysts highlighted the resilience of Boot Barn’s business model and the benefits of improved execution as key factors in their assessment. Supporting this view, Boot Barn maintains a healthy current ratio of 2.45 and operates with moderate debt levels. They have increased their estimates for the fiscal first quarter while keeping projections for the rest of the year unchanged, viewing the company’s guidance as conservative.
Despite Boot Barn’s valuation being above historical averages, BTIG analysts consider the multiples reasonable. They attribute this to the scarcity of retailers that can achieve mid-teens unit growth and sustain positive comparable sales.
BTIG also sees tariff-related disruptions as potential opportunities for Boot Barn to gain market share. The firm continues to regard Boot Barn as a top pick among small and mid-cap stocks.
In other recent news, Boot Barn Holdings Inc. has reported significant developments that are catching the attention of investors. The company revealed a 10.1% increase in same-store sales for the first nine weeks of the quarter, surpassing both its guidance of 4.0-6.0% growth and analysts’ expectations. This sales acceleration has prompted Citi to maintain its Buy rating with a price target of $180, citing potential for earnings to exceed initial forecasts. Piper Sandler, after meeting with Boot Barn executives, reaffirmed its Overweight rating and $184 target, noting the company’s strategic moves in merchandising and brand portfolio management.
JPMorgan has also raised its price target for Boot Barn to $207, maintaining an Overweight rating. The firm anticipates higher earnings per share than previously expected, driven by stronger same-store sales and margin improvements. UBS, maintaining a Buy rating with a $210 price target, highlighted Boot Barn’s potential to open 330 additional stores over the next five years, projecting a 13% compound annual growth rate in earnings per share. Williams Trading increased its price target to $190, emphasizing Boot Barn’s robust growth prospects and strategic initiatives under new CEO John Hazen.
These developments collectively underscore Boot Barn’s strong market position and growth potential, as noted by multiple analyst firms.
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