Down 23% This Year, Is Lululemon Athletica Stock a Buy?
Short-term returns can quickly turn negative for any stock, but this is especially true for one that had been soaring before bad news came to light. That's the tough situation that Lululemon Athletica (NASDAQ: LULU) shareholders recently faced.
The stock had been rallying heading into its fiscal Q4 earnings report on March 21, but fell hard in the immediate wake of that announcement. Shares are now trailing the return of the wider market over the past year after having roughly doubled the S 500's 30% gain before that report.
There were some good reasons for the pullback, mainly tied to a weakening retail selling environment in the core U.S. market. Let's look at whether investors are overreacting to that stumble, though, and potentially making the stock a great buy for 2024 and beyond.
Source Fool.com
Lululemon Athletica Inc. Stock
Currently there is a rather positive sentiment for Lululemon Athletica Inc. with 66 Buy predictions and 5 Sell predictions.
With a target price of 465 € there is a positive potential of 36.44% for Lululemon Athletica Inc. compared to the current price of 340.8 €.
