Is Express Inc. a Buy After Beating Q3 Earnings Estimates?

Stock Markets6 minutes ago (Dec 06, 2021 12:03PM ET)

(C) Reuters. Is Express Inc. a Buy After Beating Q3 Earnings Estimates?

The shares of specialty apparel retailer Express (EXPR) gained in double digits intraday on December 2, after the company reported better-than-expected third-quarter earnings. However, given continuing supply chain disruptions and surging market volatility, will EXPR be able to maintain its growth trajectory in the near term? Read more to find out.Apparel and accessories manufacturer Express, Inc. (EXPR) in Columbus, Ohio, outperformed consensus estimates in its fiscal third quarter ended October 31, 2021. And following its earnings release on December 2, shares of EXPR gained 21.3% in price to hit an intraday high of $4.38. However, the stock has declined 3.5% since due to a broader market pullback amid the resurgence of COVID-19 cases.

The stock benefited substantially from the meme stock craze earlier this year; it gained 193.2% over the past year and 276.9% year-to-date. The company’s upbeat growth outlook and favorable analyst sentiment attracted meme investor attention.

However, with social media attention turning to other stocks, meme interest in the stock is ebbing, as evidenced by EXPR’s 34.5% decline over the past six months and 19.9% decline over the past month.

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Is Express Inc. a Buy After Beating Q3 Earnings Estimates?

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