Vera Bradley (NASDAQ:VRA) Issues FY 2023 Earnings Guidance

Vera Bradley (NASDAQ:VRAGet Rating) issued an update on its FY 2023 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.20-$0.28 for the period, compared to the consensus EPS estimate of $0.41. The company issued revenue guidance of $480.00 million-$490.00 million, compared to the consensus revenue estimate of $497.56 million.

Vera Bradley Trading Down 2.9 %

VRA stock traded down $0.09 on Friday, hitting $3.06. The company’s stock had a trading volume of 12,739 shares, compared to its average volume of 408,885. The firm has a 50 day moving average of $4.10 and a two-hundred day moving average of $5.49. Vera Bradley has a 1 year low of $3.02 and a 1 year high of $11.13. The stock has a market cap of $95.17 million, a price-to-earnings ratio of -3.75 and a beta of 1.79.

Vera Bradley (NASDAQ:VRAGet Rating) last released its quarterly earnings results on Wednesday, August 31st. The textile maker reported $0.08 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.05). Vera Bradley had a negative net margin of 5.03% and a positive return on equity of 2.64%. The business had revenue of $130.40 million during the quarter, compared to analysts’ expectations of $132.51 million. During the same quarter last year, the company earned $0.28 EPS. The firm’s revenue for the quarter was down 11.3% compared to the same quarter last year. As a group, equities analysts forecast that Vera Bradley will post 0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VRA has been the topic of several recent research reports. Noble Financial initiated coverage on shares of Vera Bradley in a research note on Thursday, June 16th. They issued an outperform rating and a $8.00 price objective on the stock. TheStreet cut shares of Vera Bradley from a c rating to a d+ rating in a research note on Tuesday, June 21st. StockNews.com cut shares of Vera Bradley from a buy rating to a hold rating in a research note on Friday, June 17th. Cowen dropped their price objective on shares of Vera Bradley to $4.50 in a research note on Tuesday, September 6th. Finally, Telsey Advisory Group dropped their price objective on shares of Vera Bradley from $9.00 to $7.00 and set a market perform rating on the stock in a research note on Thursday, June 9th.

Hedge Funds Weigh In On Vera Bradley

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Prelude Capital Management LLC acquired a new position in shares of Vera Bradley during the 2nd quarter worth $125,000. ExodusPoint Capital Management LP purchased a new stake in shares of Vera Bradley in the 2nd quarter worth about $158,000. Walleye Capital LLC purchased a new stake in shares of Vera Bradley in the 2nd quarter worth about $143,000. Goldman Sachs Group Inc. boosted its position in shares of Vera Bradley by 242.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 145,928 shares of the textile maker’s stock worth $633,000 after buying an additional 103,301 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Vera Bradley in the 2nd quarter worth about $812,000. 64.77% of the stock is owned by institutional investors and hedge funds.

About Vera Bradley

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Vera Bradley, Inc, together with its subsidiaries, designs, manufactures, and sells women's handbags, luggage and travel items, fashion and home accessories, and gifts. It operates through three segments: Vera Bradley Direct, Vera Bradley Indirect, and Pura Vida. The company offers bag products, such as totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including wallets, wristlets, eyeglass cases, scarves, and various technology accessories; bracelets, rings, and necklaces under Pura Vida brand name; and travel products consisting of rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.

See Also

Earnings History and Estimates for Vera Bradley (NASDAQ:VRA)

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