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Goldman Sachs Boosts Tapestry’s Price Target to $52 Amid Positive Forecasts

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Written by Timothy Sykes
Reviewed by Jack Kellogg Fact-checked by Ellis Hobbs

Tapestry Inc.’s shares are on the rise, fueled by the acquisition of Capri Holdings in a strategic move that creates a new global luxury brand powerhouse. On Friday, Tapestry Inc.’s stocks have been trading up by 14.03 percent.

Recent Developments in Tapestry Inc.

  • Goldman Sachs has lifted the price target for Tapestry to $52 from $47, signaling a positive sentiment towards the stock. Analysts show optimism, with targets fluctuating between $40 and $60.
  • Tapestry, Inc. has scheduled its fiscal year 2025 first-quarter earnings call for November 7, 2024. Financial results will be unveiled on the same day, sparking curiosity about future performance.
  • The collaboration between Kate Spade New York, under Tapestry, and the Global Fund for Women’s Mental Health sees a launch with Pinterest and Saks Fifth Avenue Foundation, amassing an initial investment of $450,000 to support mental health. This initiative highlights Tapestry’s commitment to social impact.

Candlestick Chart

Live Update at 08:51:58 EST: On Friday, October 25, 2024 Tapestry Inc. stock [NYSE: TPR] is trending up by 14.03%! Discover the key drivers behind this movement as well as our expert analysis in the detailed breakdown below.

Quick Overview of Tapestry Inc.’s Financial Landscape

Tapestry’s recent financial performance shines through its financials and strategic decisions. The company’s adjusted key financial metrics show a robust stance in several areas, as depicted by its EBIT margin standing at 17% and a promising gross margin of 73.3%. A noteworthy enterprise value of nearly $11.5B reflects confidence in Tapestry’s market potential, further bolstered by a PE ratio of 12.55.

The company’s financial strength is evident, with a total debt-to-equity ratio of 3.03 indicating a manageable level of debt relative to its equity. Furthermore, Tapestry boasts a healthy quick ratio of 4.3, showcasing its ability to meet short-term obligations.

In recent reports, Tapestry has shown resilience amidst challenges. The balance sheet portrays total assets amounting to nearly $13.4B, combined with a retained earning figure in the negative due to substantial investments. Their operational excellence has also resulted in a current ratio of 5.1, ensuring liquidity and stability.

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This financial landscape is further enhanced by an operating revenue surpassing $1.5B, painting a picture of Tapestry’s operational prowess. The gross profit, which towers over $1.19B, encapsulates both strategic pricing and cost management, signaling continued growth.

The Impact of Tapestry’s Initiatives and Predictions Based on Recent News

Goldman Sachs’s move to adjust Tapestry’s price target is not just an isolated event, it mirrors confidence in Tapestry’s ability to deliver consistent growth. This hike in projection stems from insights gathered from market performance and reflects a broader positive outlook anticipated by analysts. A rise in stock price often initiates investor reevaluation and a potential influx of capital as perceptions shift favorably.

Tapestry’s earnings call scheduled for early November holds the key to unraveling the financial journey laid out for fiscal year 2025. Investors and analysts alike are keenly poised to dissect insights and financial trajectories that may set new benchmarks or affirm alignment with positive forecasts.

Moreover, the innovative collaboration spearheaded by Kate Spade New York marks Tapestry’s strategic immersion into socially dynamic initiatives. By aligning itself with notable partners to champion women’s mental health, Tapestry aligns its brand with purpose-driven initiatives which could inspire consumer loyalty and broaden brand appeal.

Conclusion: Analyzing Tapestry’s Prospects

With Goldman Sachs’s endorsement and amplified price target, Tapestry finds itself in a favorable position. Such indicators of market confidence act as a catalyst boosting stock potential even further. Key financial metrics, strategic initiatives, and market predictions create a composite outlook indicating that Tapestry, Inc. may be ready for an upward trajectory amidst the competitive landscape.

The anticipation surrounding the forthcoming earnings call could reshape sentiment and align well with the strategies that Tapestry continues to pursue. With its fortified financial position and commitment to social initiatives, Tapestry presents investors with narratives rich in both stability and potential for growth. The journey for Tapestry seems poised for intriguing chapters – with a dynamic dance of market positions and a passion for impactful progress, the path ahead looks captivating.

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The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

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Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”