1 Growth Stock Down 17% to Buy Right Now
Athletic apparel retailer Lululemon Athletica (NASDAQ: LULU) recently reported its second-quarter results, which -- unsurprisingly -- exceeded consensus analyst estimates. Revenue of $2.2 billion was 18% higher than the year-ago period. And diluted earnings per share (EPS) increased 19% to a total of $2.68.
While the stock has done well lately, up 24% this year, as of this writing it is trading 17% off its all-time high from November 2021. This sizable discount presents investors with a great opportunity to buy a wonderful growth stock on the dip.
The latest financial update proves that it's business as usual for this thriving apparel company. Macroeconomic headwinds, like inflation, higher interest rates, and fears about a recession, appear to be nothing to worry about. Including the most recent quarter, Lululemon has increased both revenue and EPS by double digits on a year-over-year basis in 11 out of 12 three-month periods. This momentum is truly remarkable given the unusual events in recent years.
Source Fool.com
Lululemon Athletica Inc. Stock
Currently there is a rather positive sentiment for Lululemon Athletica Inc. with 91 Buy predictions and 6 Sell predictions.
With a target price of 453 € there is a hugely positive potential of 91.58% for Lululemon Athletica Inc. compared to the current price of 236.45 €.
