The stock of Urban Outfitters, Inc. (NASDAQ:URBN) is now priced at $23.81 and the shares are -0.24 points down or -1% lower compared to its previous closing price of $24.05. The stock had 3.206 million contracts set over the past session. URBN shares’ daily volume is compared to its average trading volume at 2.653 million shares. However, it has a float of 56.59 million and although its performance was 26.31% over the week, it’s one to watch. Analysts have given the URBN stock a yearly average price target of $24.17 per share. It means the stock’s upside potential is 1.51% with the URBN share price recently placing at $23.33 to $24.13. However, some brokerage firms have priced the stock below the average, including one that has called $19.
The shorts are running away from the Urban Outfitters, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the URBN shares have declined. Short interest in the stock represents just 14.96% of its float, but the volume has dropped by -221740. The volume of shorted shares dropped to 8.467 million from 8.689 million shares over the last two weeks. The average intraday trading volume has been 2.255 million shares, which means that days to cover moved to roughly 3.754818.
In the last trading session, Urban Outfitters, Inc. (NASDAQ:URBN) raised by $4.96 over the week and gained $7.27 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $31.41. The stock recorded its established 52-week high on 11/15/19.
Since 04/03/20, the stock has traded to a low of $12.28 at 93.89%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.52. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Urban Outfitters, Inc.’s two-week RSI is 70.92. This suggests that the stock is oversold at the moment and that URBN shares’ price movement remains not stable. The stochastic readings are equally revealing at 71.25% meaning the URBN share price is currently in oversold territory.
The technical chart shows that the URBN stock will likely settle at between $24.18 and $24.56 per share. However, if the stock dips below $23.38, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $22.96.
Currently, the stock is trading in the green of MACD, with a reading of 3.14. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Telsey Advisory Group raised their recommendation for URBN from Market Perform to Outperform in August 26 review while maintain their target price of $20 to $30. Loop Capital analysts upgraded their recommendation of the stock from Sell to Hold while keeping its target price at $24 in a flash note released to investors on August 26. Wells Fargo analysts see the stock as Overweight. Nonetheless, the analysts revised the share prices up on August 26, placing it at $28 from $20.
The average rating for the URBN equity is 2.65 and is currently gathering a bullish momentum. Of 21 analysts tracking Urban Outfitters, Inc. polled by Reuters, 14 rated URBN as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (6) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the URBN stock price is 14.72X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 274.2. Urban Outfitters, Inc. has its P/E ratio at 1.7, which means that the stock is currently trading at a discount relative to the 8.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Urban Outfitters, Inc. (NASDAQ:URBN) will increase by about 13.83%, which will see them reach $914 million. The company’s full-year revenues are, however, expected to diminish by about -14.07%, down from $3980 million to $3420 million. URBN’s expected adjusted earnings should drop almost -32.14% to end up at $0.38 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -122.73% to record -$0.45/share.