Why Shares of Vera Bradley Rocketed Higher Today
Shares of Vera Bradley (NASDAQ: VRA) soared on Wednesday after the company reported mixed third-quarter results. While revenue tumbled due to a decline in comparable sales, both earnings and fourth-quarter guidance came in ahead of analyst expectations. The stock was up about 29.5% at 11:45 a.m. EST.
Vera Bradley reported third-quarter revenue of $114.1 million, down 9.9% year over year and about $0.5 million below the average analyst estimate. Direct segment revenue dropped 3.4% year over year to $83.2 million, while indirect segment revenue slumped 23.8% to $30.9 million. Comparable-store sales fell 6.9%, and e-commerce sales fell 8.9%.
Image source: Vera Bradley.
Source: Fool.com
Vera Bradley Inc. Stock
€5.65
-19.860%
Vera Bradley Inc. is currently one of the favorites of our community with 6 Buy predictions and no Sell predictions.
With a target price of 9 € there is a hugely positive potential of 59.29% for Vera Bradley Inc. compared to the current price of 5.65 €.
