Torrid Holdings Analysts Slash Their Forecasts After Weak Earnings

Torrid Holdings Inc. CURV reported weaker-than-expected second-quarter earnings.

Torrid Holdings posted earnings of 6 cents per share, missing market estimates of 10 cents per share. The company’s quarterly sales came in at $289.14 million versus expectations of $286.74 million.

The company said it sees FY24 revenue of $1.08 billion to $1.115 billion, versus estimates of $1.14 billion.

Torrid shares dipped 20.6% to trade at $1.7469 on Thursday.

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

• Telsey Advisory Group cut the price target on Torrid Holdings from $3 to $2. Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating.
• Baird slashed the price target on Torrid Holdings from $4 to $2.5. Baird analyst Mark Altschwager downgraded the stock from Outperform to Neutral.
• Goldman Sachs lowered the price target on Torrid Holdings from $3 to $2.6. Goldman Sachs analyst Brooke Roach maintained a Neutral rating on the stock.

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