Retail Stock Hit with Pre-Earnings Bear Note

The stock is up more than 50% in 2023

Deputy Editor
Aug 14, 2023 at 9:28 AM
facebook X logo linkedin

Urban Outfitters, Inc. (NASDAQ:URBN) is down 2.1% to trade at $35.64 before the bell, following a bear note from Citigroup. The Wall Street firm downgraded the apparel retailer to "neutral" from "buy," noting that despite expectations of an earnings beat next week, the risk/reward profile is more balanced right now.

Coming into today, covering brokerages were split on URBN. Specifically, six of 12 rated the stock a "buy" or better, while six said "hold" or worse. Short interest is down 19.3% in the last two reporting periods, yet the 4.41 million shares sold show still make up 6.6% of the security's available float.

The options pits are much more bullish. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day call/put volume ratio of 1.03 ranks higher than 95% of readings from the past 12 months.

Ahead of today's bear note, Urban Outfitters stock was 52.7% higher year-to-date. The security hit its highest level since November 2021 last week, thanks to guidance from its ascending 30-day moving average, but today's negative price action threatens to place URBN just shy of this trendline. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI