Why did Lululemon stock jump today? Sales momentum to start 2022
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Lululemon (NASDAQ:LULU) broke 9.4% higher on Wednesday after posting a strong Q4 earnings report, issuing guidance above expectations and announcing a new $1B buyback plan.
Wall Street analysts were positive on the LULU report, including several firms raising price targets.
"All in, we are impressed with the acceleration in the business following management trimming initial 4Q21 guidance to the low end of its previous range in early January as a result of higher-than-expected freight costs & Omicron impacts to store capacity & traffic," read Morgan Stanley's assessment.
Shares of Lululemon (LULU) moved back over the 100-day moving average with the post-earnings rally.