Athletic and lifestyle apparel retailer Lululemon Athletica’s (NASDAQ:LULU) upbeat Q1 results would not have surprised users of TipRanks’ Website Traffic Tool. Investors should note that the tool gathers data about a company’s website performance over a specific time frame. This information can be used to predict the upcoming earnings report, as growth in online usage may point to higher sales.
Learn how Website Traffic can help you research your favorite stocks.
Website Traffic Showed Uptrend
Ahead of the Q1 earnings release, the website traffic tool showed that total estimated visits for lululemon.com increased by over 76% for the quarter compared to the same period last year. The increase in website traffic pointed to solid top-line performance.
Eventually, LULU reported first-quarter revenues of $2.2 billion, up 10% year-over-year. The company witnessed strong growth in international sales, particularly in China. Also, comparable store sales increased by 6% year-over-year. Meanwhile, the company reported adjusted EPS of $2.54, up 11.4% year-over-year.
LULU Stock Boasts a “Perfect 10” Smart Score
Lululemon stock has received a “Perfect 10” Smart Score on TipRanks. It’s important to note that stocks with the “Perfect 10” score have historically surpassed the S&P 500 Index (SPX) by a significant margin.
According to our data, hedge funds and insiders are currently bullish on LULU stock. Also, it exhibits Bullish bloggers’ sentiment and Positive News Sentiment. Moreover, retail investors have increased their holdings of the stock.
Is LULU a Good Stock to Buy?
Overall, Wall Street is cautiously optimistic about the company. It has a Moderate Buy consensus rating based on 17 Buy, four Hold, and one Sell ratings. The analysts’ average price target on LULU stock of $434.62 implies a solid upside potential of 40.99%. Shares of the company have declined 31.3% in the past three months.
