Five Below (FIVE) Misses High Expectations, Jefferies Would Buy the Dip, Maintains $300 PT

Jefferies analyst Randal Konik reiterated a Buy rating and $300.00 price target on Five Below (NASDAQ: FIVE) after missing high expectations in a difficult to model post COVID world.

The analyst suggested investors Buy the Dip stating "What matters is 1) comps were up big (+21% vs. '19), 2) new store growth remains high (near mid-teens% YoY), and 3) Q3 outlook appears inline to slightly better. Supply chain is a headwind n-term, but it is for all, so we focus on l-term where store TAM is very large, "Five Beyond" is a big catalyst, and cash flow generation is strong."

For an analyst ratings summary and ratings history on Five Below click here. For more ratings news on Five Below click here.

Shares of Five Below closed at $216.05 yesterday.

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