Arhaus Analysts Raise Their Forecasts After Upbeat Q2 Earnings

Arhaus, Inc. ARHS reported better-than-expected second-quarter earnings.

Arhaus posted adjusted earnings of 29 cents per share, beating market estimates of 26 cents per share. The company’s quarterly sales came in at $313.00 million, versus expectations of $327.58 million.

Arhaus tightened its FY23 revenue guidance from $1.24 billion-$1.3 billion to $1.25 billion-$1.29 billion.

Arhaus shares gained 8.7% to close at $12.61 on Wednesday.

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

• Telsey Advisory Group raised the price target on Arhaus from $13 to $15. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating.
• Barclays increased the price target on Arhaus from $12 to $14. Barclays analyst Seth Sigman maintained an Overweight rating on the stock.

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