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On Friday, Williams Trading analyst Sam Poser increased the price target for Boot Barn (NYSE:BOOT) Holdings Inc (NYSE: BOOT) shares, raising it significantly from $115.00 to $190.00. The firm maintains a Buy rating on the stock. The optimistic outlook follows the stock’s impressive 31.73% surge in the past week, though InvestingPro data indicates the stock is currently trading in overbought territory. Poser highlighted the company’s continued improvement and strong growth prospects, describing Boot Barn as "the best growth story in retail," specializing in western and work wear in the United States.
Boot Barn, with a presence in over 49 states through 459 stores, has set an ambitious target of operating 900 stores by the year 2030. This expansion plan corresponds to an approximate 15% annual growth rate, building on the company’s strong 14.64% revenue growth over the last twelve months. With a market capitalization of $4.82 billion and a healthy financial profile (rated "GOOD" by InvestingPro), the company appears well-positioned for expansion. Poser also noted the impact of new CEO John Hazen, who has implemented more focused merchandise planning and introduced traffic counters in stores to better monitor conversion rates.
The fourth quarter of fiscal year 2025 saw a solid 6% growth in same-store sales (SSS), with a 5.5% increase in retail and a 9.8% surge in e-commerce. The positive trend continued into the first quarter of fiscal year 2025 with brick-and-mortar same-store sales up around 9%. This includes a 9.8% increase in April and an 8.4% rise in the first two weeks of May.
The analyst’s commentary underscores the strategic moves by Boot Barn that are expected to further cement its dominance in its retail categories. The introduction of traffic counters and targeted merchandise planning by the new CEO are seen as key drivers of the company’s robust performance in both its physical stores and online platform.
In other recent news, Boot Barn Holdings Inc. reported its fiscal Q4 2025 earnings, revealing an earnings per share (EPS) of $1.22, which fell slightly below the forecast of $1.25. The company’s revenue for the quarter was $453.7 million, missing the expected $458.91 million, yet still marking a 17% increase year-over-year. For the full fiscal year, Boot Barn achieved a record revenue of $1.9 billion. Looking ahead, the company plans to open 65-70 new stores in fiscal 2026, aiming for a sales guidance range of $2.070-$2.150 billion.
In analyst updates, Citi raised its price target for Boot Barn to $180, maintaining a Buy rating, following positive investor meetings with the company’s executives. Meanwhile, UBS increased its price target to $210, also reiterating a Buy rating, citing Boot Barn’s strong market position and growth potential, including the possible addition of 330 stores over the next five years. The analysts from both firms expressed confidence in Boot Barn’s ability to handle tariffs and expand its market share.
Boot Barn’s strategic initiatives, such as expanding its store count and focusing on exclusive brands, have contributed to its robust performance. The company has also been actively managing its supply chain to mitigate tariff impacts and diversify production away from China. These recent developments suggest a strong outlook for Boot Barn as it continues to expand and adapt to market conditions.
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