Why RH Stock Is Trading Higher Today

RH RH is trading higher Thursday morning after the company reported better-than-expected financial results.

What Happened: RH reported first-quarter earnings of $4.89 per share, which beat the estimate of $4.07 per share. The company reported quarterly revenue of $860.8 million, which beat the estimate of $755.94 million.

RH raised its full-year 2021 revenue growth guidance from a range of 15% to 20% to a range of 25% to 30%.

Analyst Assessment: Multiple analyst firms raised price targets for RH following its earnings report:

• Wedbush analyst Seth Basham maintained RH with an Outperform rating and raised the price target from $700 to $720.
• Wells Fargo analyst Zachary Fadem maintained RH with an Overweight rating and raised the price target from $700 to $725.
• JP Morgan analyst Tami Zakaria maintained RH with an Overweight rating and raised the price target from $750 to $770.
• Baird analyst Peter Benedict maintained RH with a Neutral rating and raised the price target from $510 to $650.
• Citigroup analyst Steven Zaccone maintained RH with a Buy rating and raised the price target from $634 to $770.

Price Action: RH has traded as high as $733.05 and as low as $226.82 over a 52-week period. 

At last check Thursday, the stock was up 11.20% at $679.49.