These Analysts Increase Their Forecasts On Torrid After Upbeat Q3 Results

Torrid Holdings Inc. CURV reported better-than-expected third-quarter financial results and issued FY23 revenue guidance above estimates on Thursday.

Net sales fell 8.3% Y/Y to $275.4 million, beating the consensus of $245.8 million. EPS loss of $(0.03) came above the consensus of $(0.05), according to data from Benzinga Pro.

For FY23, Torrid raised guidance for net sales to $1.125 billion-$1.140 billion (from $1.080 billion and $1.115 billion) vs. $1.09 billion estimate and adjusted EBITDA to $99 million-$103 million (from $90 million-$100 million).

Torrid shares jumped 20.7% to trade at $5.01 on Friday.

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

• Morgan Stanley raised the price target on Torrid from $2 to $4. Morgan Stanley analyst Alex Straton maintained an Equal-Weight rating.
• Telsey Advisory Group increased the price target on Torrid from $2 to $5. Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating.

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