- Urban Outfitters (URBN -15.9%) is getting punished by investors and analysts after issuing a disappointing Q1 report.
- Though the company reported sales growth, the bottom line was lighter than a year ago.
- Piper Jaffray moves its rating to a Neutral from Overweight.
- Oppenheimer slides the retailer to Perform from Outperform.
- JPMorgan downgrades Urban to Neutral from Overweight and sets a price target of $50.
- A high level of promotions and hefty web marketing expenses cut into the company's margins during Q1.
- Previously: Urban Outfitters misses by $0.05, misses on revenue (May. 18 2015)