JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Tapestry (NYSE:TPR) Inc stock has reached an all-time high, hitting a price of 101.76 USD. The luxury fashion company, now commanding a market capitalization of $21.11 billion, continues to demonstrate remarkable momentum. InvestingPro analysis indicates the stock is trading above its Fair Value, suggesting investors should monitor valuations carefully. This milestone marks a significant achievement for the company, reflecting a robust performance over the past year. Notably, Tapestry Inc has experienced a remarkable 1-year change, with its stock price increasing by 136.57%, supported by impressive gross profit margins of 75.09% and a strong 56.81% year-to-date return. This impressive growth underscores the company’s strong market position and investor confidence. As Tapestry Inc continues to expand its footprint in the luxury fashion industry, its stock performance remains a focal point for market analysts and investors alike. For deeper insights and additional ProTips, including comprehensive valuation metrics, explore the detailed research available on InvestingPro.
In other recent news, Tapestry Inc. reported financial results that exceeded expectations, with strong performance in both revenue and earnings. The company highlighted the continued success of its Coach brand, which has been a significant contributor to its overall financial health. Following these results, BMO Capital Markets raised its price target for Tapestry to $80, maintaining a Market Perform rating, while Citi increased its target to $94, continuing with a Buy rating. Morgan Stanley (NYSE:MS) also upgraded Tapestry’s stock rating to Overweight, raising the price target to $90, citing potential positive revisions in near-term earnings per share.
Raymond (NSE:RYMD) James adjusted its price target for Tapestry to $85, maintaining an Outperform rating. Analysts from Bernstein reiterated an Outperform rating, emphasizing Coach’s brand momentum and pricing power. They noted Coach’s ability to attract younger consumers and maintain strong brand health metrics. Despite the economic uncertainties, Tapestry’s management has not observed any slowdown in sales, and the company remains optimistic about its future financial performance. These developments underscore Tapestry’s resilience and strategic positioning in the luxury market.
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