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Deutsche Bank cuts boohoo price target to 43 (45) pence - 'hold'

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SocGen cuts boohoo price target to 41 pence - 'hold'

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Goldman Sachs cuts boohoo price target to 50 (60) pence - 'neutral'

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Boohoo share price gets oversold ahead of preliminary earnings

By: Crispus Nyaga

on May 15, 2023

Listen

Boohoo will publish its preliminary financial results on Tuesday.

Based on Asos results, analysts expect that the company will publish weak results.

The stock has become highly oversold ahead of the results.

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Boohoo (LON: BOO) share price is in a freefall as concerns about the company continued. The stock plunged below the support level at 40p after the relatively weak earnings by Asos, its top competitor. It has retreated from the year-to-date high of 60.86p or by ~38%. Focus now shifts to the upcoming financial results.

Boohoo earnings preview

One of the biggest UK retail news this week will be Boohoo’s preliminary results scheduled for Tuesday this week. As I wrote here, these are important results because they will provide more information about the company’s growth and profitability.

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Boohoo, like Asos, is now focusing its efforts on profitability by reducing costs and selling profitable products. Still, analysts are concerned about this strategy as the industry gets more competitive, especially from Shein and other Chinese companies. For example, those at Deutsche Bank lowered their stock target from 50p to 45p.

The other important catalyst for the stock will be its loss guidance. The most recent results showed that the company’s loss jumped to 15 million pounds in the first half of its financial year. There are chances that its preliminary results will show more losses going forward. Some analysts believe that the company will turn a profit in 2023.

The current price action of Boohoo share price reflects that most investors have low expectations for the company. It is a sign that the expected negative results have been priced in. Therefore, it will not be a surprise if the shares bounce back after the earnings.

Boohoo share price forecast

LON: BOO stock has been in a strong bearish trend in the past few days. It has managed to move below the 50-day exponential moving average on the 4h chart, At the same time, the stock is slightly above the important resistance point at 32p, the lowest point in 2022.

Oscillators like the Relative Strength Index (RSI) and the Stochastic Oscillator have moved below the oversold level. Therefore, the shares will likely have a temporary reprieve after its earnings since the bad news has already been priced in. After this, the shares will resume the downward trend as sellers target the key support level at 32p.

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Didn't accuse you of pumping a takeover T4G .

However I did accuse Ron of doing so .

Simple

Not quite what you posted was it eh Ron.

Here is the snippet from Proactive .

"With UK stocks remaining undervalued, private equity will continue to run the rule over them, and Apollo may just be eyeing up boohoo."

So Ron tried to get me reported for calling his BS out....must of brought on open after his twitter gander pre 8am ....all spec off the cuff Rampy Ron.

Are you a bit thick T4G......you go on about polluting rubbish whilst posters try and ramp the idea of a supposed highly likely takeover from apollo......pot kettle black again

Staggering how manyclots on here ain't sussed him out that he's massively upto his neck in this one and he realy wish he had got out an age ago.

Incoming big T4g......don't question the rampers eh

What a load of tosh and if we could just sneak that average figure on his HGL account it would certainly paint a full picture as to why you are the way you are on here.

But it's set for the stars T4G so its a no brainer to add more and more

Did you top up then today T4G ???

Looks like Ronnie has been smoking a Level5 special......

Now Will get the whole manipulation endless rants likely

Yawn!!!!!just drbbles on and on

Same know the lot speel he marketed on here at a quid and is still at it getting it wrong

"However the shorts will still be helped to exit"

Do keep up Level5.

Went out at just shy of 53p FYI...happily in profit and "risk averse" unlike yourself.

Bit of a climb to get back up now.

Next time "take some profit man"

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HOMEPAGESHARES

Boohoo Share Price Experiences Its Worst Week Since Nov’22

MAY 15, 2023, 11:13 BST 11:13

Boohoo Share Price Experiences Its Worst Week Since Nov’22

Boohoo (LON: BOO) share price has been in a tailspin since last week as the company is set to release its earnings report on May 16. Shares of the online fashion retailer have perfectly met my predicted price target of 40p, which was mentioned in last week’s article. The latest analysis reveals that a relief bounce could be around the corner, but there’s a catch.

The UK stock market showed a mixed sentiment on Monday. Nevertheless, the benchmark FTSE 100 index was still up 40 points due to the positive price action in the bank shares. At press time, Boohoo shares were trading at 39p after a 3% drop during the initial hours of trading.

Boohoo Shares Tank As ASOS Reports Sales Decline

ASOS plc released its financial results last week. The latest results showed that the company had to face a significant decline in sales and a loss during the six months ending in Feb’23. This triggered a sell-off in not only the ASOS (LON: ASC) shares but also in its rival fashion retailer Boohoo Group plc whose earnings report is due this week.

Consequently, Boohoo share price plummeted by 13.69% in a single week. This was the biggest weekly drop in the shares of Boohoo UK since November 2022 and the sixth consecutive red week. Another major headwind for the stock was the $197 million settlement in a recent lawsuit in the US.

Boohoo Share Price Retests Yearly Lows

LON: BOO chart shows that the shares dropped to their lowest level since January 4 last week before having a bounce. The price rebounded just a few pennies above the yearly low of 35.5p, which suggests that there could be another drop to retest tag that level.

The RSI is signaling oversold on the daily and 4H timeframes, which suggests that the bounce might get some more follow-through. Nevertheless, my Boohoo share price forecast will remain bearish as long as the price remains below 50p. A beach of 37.47p may result in another drop to 32.65p, which is a major support on the chart. Tomorrow’s earnings report will be the key in this regard.

I’ll keep sharing my updated price outlook on Boohoo & other stocks in my free Telegram group, which you’re welcome to join.

Boohoo share price chart

LON: BOO Chart

This post was last modified on May 15, 2023, 11:13 BST 11:13

Abdullah Sarwar

Abdullah Sar

"My intention is to avoid this board first thing as it will likely be full of new and existing trolls spouting a load of rubbish"

The above cobblers yet again from the forced down the throat poster waffling away whilst stuck heavily underwater here

You know damn well that if this opens up and flys in the morning then the clown will be all over the board.

Basically he is trying to sadly cover himself being he is so thin skinned....

Rather hilarious his so called 31p purchase not so long ago with a view of turning a quick profit (his words) was never mentioned again by T4G as far as something along the lines of "just sold some of the 31p lot I picked up".....those monopoly buys eh to try and look like the bigshot ......and now he's claiming he has spare cash to average down yet again .....yes "YET AGAIN"...that right another one ....absolutely chased this all the way down he has and I've lost count of his acclaimed top ups now..

Beyond pompous and full of his own self importance investor whos been biten badly here for it....

"Quite probably with very limited Chinese walls"

= true, as the great wall has deteriorated in places so an accurate description here from T4G ...he's done his research again

"marker maker"

=Not sure about this one as could be referencing something to do with "Sharpies or Berrol".... or could be a hidden meaning in this tongue twister from the great T4G 🤔

It is a Sunday so I guess it's only fair to expect some preaching and all folks

Very rampy morning that day on the Asos board when the RNS landed pre market open.

DC posted the below pre market open albeit the timestamp is out (an hour behind)

T4G still talking utter gaslighting sh*** again.....it collapsed on the day after open...DC was spot on and that just irks you further T4G

DC2007

Posted in: ASC

Posts: 1,348

Price: 635.80

No Opinion

RE: Results10 May 2023 06:20

Not had time to read in detail yet, but those results are dreadful. It's says fast fashion online only has peaked; the business model doesn't look viable in the new normal.

Hell of a rant over on the asos board T4G......sorry chap but it's hilarious as folk on that board ain't stupid and will know all about the "T4G mega rusk chucking poster" and what goes here on this board

Talk about thin skinned or what sulking off on a different board over "DC" as though folk on the asc board know nothing about this board or you.

You must be pretty thick I'm afraid trying to pollute your toxic forced copper stance over at asos......FOLK AINT INTERESTED T4G and will all know about T4G being the mega poster on here day in day out.

I honestly think yoou are completly dumb at times and don't think.

Everyone's a troll but you T4G...your as honest as they come on here lmfao

Tradey now flinging his toys about over on the Asos board and nobody gives a flying scooby doo or responded to his little outburst.....comic!!

The chap must be bored out if his mind and highly frustrated yet again or is I calll it "A long term poster with a short term temper"

Ateast the rampy takeover spec has started reg Asos with the latest "uncooked" shennanagins.....seem to recall boo had one up at the quid mark "uncooked" (could be wrong).......maybe will cheer Victor up a bit.