Urban Outfitters Inc (NASDAQ:URBN) reported better-than-expected earnings for the first quarter on Wednesday.

The company posted quarterly earnings of $1.30 per share which beat the analyst consensus estimate of $1.16 per share. The company reported quarterly sales of $1.481 billion which beat the analyst consensus estimate of $1.449 billion.

“We are pleased to report record first quarter sales and earnings driven by positive retail segment ‘comps’ at all brands and impressive double-digit growth in both our Wholesale and Subscription segments,” said Richard A. Hayne, Chief Executive Officer. “Our customers remain engaged and are responding to compelling fashion trends, giving us confidence in URBN’s continued success.”

Urban Outfitters shares fell 0.5% to trade at $71.30 on Thursday.

These analysts made changes to their price targets on Urban Outfitters following earnings announcement.

• B of A Securities analyst Lorraine Hutchinson maintained the stock with a Buy and raised the price target from $85 to $90.
• JP Morgan analyst Matthew Boss maintained the stock with an Overweight rating and raised the price target from $94 to $97.

Considering buying URBN stock? Here’s what analysts think:

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