D-Wave Quantum falls nearly 3% as earnings miss overshadows revenue beat
Tapestry (NYSE:TPR) Inc stock has reached a new all-time high, hitting 110.46 USD, with a current market capitalization of $22.89 billion. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, suggesting investors should carefully consider entry points. This milestone comes amidst a remarkable 199.13% increase in the company’s stock price over the past year. The surge reflects strong investor confidence and robust performance in the market, evidenced by impressive gross profit margins of 75.09% and a P/E ratio of 28.44. Tapestry Inc continues to expand its footprint in the luxury goods sector, with InvestingPro identifying 17 additional bullish indicators available to subscribers. The stock’s ascent to this record level underscores the company’s strategic initiatives and successful adaptation to evolving consumer trends. For comprehensive analysis and detailed insights, investors can access the full Pro Research Report, available exclusively on InvestingPro.
In other recent news, Tapestry Inc. reported financial results that exceeded expectations for both revenue and earnings, highlighting the company’s strong brand performance, particularly with its Coach brand. BMO Capital Markets responded by raising Tapestry’s stock price target to $80, maintaining a Market Perform rating. Citi also increased its price target to $94, retaining a Buy rating, citing the robust sales momentum of Coach, which showed a 15% currency-neutral increase in the third quarter. Despite the positive results, Citi noted that the Kate Spade brand has not met expectations, although efforts to revamp it are underway.
Raymond (NSE:RYMD) James adjusted its price target for Tapestry twice, first raising it to $85 and later to $115, while maintaining an Outperform rating. The firm highlighted Tapestry’s growth potential through innovation and strong marketing strategies. Bernstein SocGen Group reiterated its Outperform rating with a $100 price target, emphasizing the sustainable momentum of the Coach brand and its appeal to younger consumers. These developments underscore Tapestry’s strategic focus on brand strength and market positioning.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.