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Stock analysts at Wedbush cut their target price on shares of Urban Outfitters (NASDAQ:URBN) from $37.00 to $36.00 in a report issued on Tuesday. Wedbush’s target price indicates a potential downside of 2.45% from the company’s current price.

Shares of Urban Outfitters (NASDAQ:URBN) traded up 4.74% on Tuesday, hitting $38.67. The stock had a trading volume of 2,363,699 shares. Urban Outfitters has a 1-year low of $32.23 and a 1-year high of $44.15. The stock’s 50-day moving average is $34.96 and its 200-day moving average is $35.37. The company has a market cap of $5.327 billion and a P/E ratio of 20.13. Urban Outfitters also was the recipient of unusually large options trading activity on Monday. Traders acquired 11,664 call options on the stock. This represents an increase of approximately 842% compared to the typical volume of 1,238 call options.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Monday, August 18th. The company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $811.00 million for the quarter, compared to the consensus estimate of $807.00 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts predict that Urban Outfitters will post $1.95 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Urban Outfitters in a research note on Tuesday. They now have a $39.00 price target on the stock, up previously from $38.00. Separately, analysts at Telsey Advisory Group raised their price target on shares of Urban Outfitters from $41.00 to $43.00 in a research note on Tuesday. They now have a “not rated” rating on the stock. Finally, analysts at Goldman Sachs raised their price target on shares of Urban Outfitters to $45.00 in a research note on Tuesday. Nine equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $42.56.

Urban Outfitters, Inc (NASDAQ:URBN) is a lifestyle specialty retail company, which operates under the Urban Outfitters, Anthropologie, Free People, Terrain and BHLDN brands.

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