Boohoo share price: 3 things to watch out for in its half-year results

The online fashion retailer releases its half-year results on Wednesday, with investors unlikely to be disappointed by its performance.

Boohoo will unveil its half-year results on Wednesday, with investors expecting more of the same for one of the UK’s best performing stocks this year.

Ahead of Boohoo’s latest trading update, IG looks at what to watch out for in its interim results.

Boohoo share price goes from strength-to-strength

Since the company listed on the London Stock Exchange’s AIM market back in March 2014, the stock has soared above its IPO price of 70p a share.

Boohoo’s stock has climbed more than 280% since its IPO and risen more than 60% since January this year to 269p. Come results day, it is likely that Boohoo’s share price will climb even higher.

Liberum Capital and Peel Hunt are among the most optimistic investment banks following the stock, reiterating their buy ratings in September and giving the online fashion retailer a target price of 320p and 350p respectively.

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Boohoo upgrades full-year guidance

Earlier this month, Boohoo upgraded its full-year guidance after recording stronger-than-expected sales growth, with the online fashion retailer expecting sales to increase by between 33% and 38% (against previous guidance of 25% to 30%).

The company anticipates EBITDA margins for the financial year to remain at around 10% - in line with previous guidance - reflecting recent M&A activity over the first-half of the financial year.

Boohoo acquired Miss Pap in March and more recently snapped up Karen Millen and Coast out of administration. The online fashion retailer also acquired PrettyLittleThing and Nasty Gal in 2017.

Will Boohoo’s stock hit a new all-time high?

After upgrading its full-year guidance earlier this month, its stock rose by as much as 20%, propelling Boohoo’s share price to an all-time high of 288p a share.

If the online fashion retailer can impress investors once again in its upcoming results on Wednesday, it could push Boohoo’s stock to a new all-time high and see it break through 300p levels.

Boohoo’s price-to-earnings ratio of 63.40 certainly suggests that investors are optimistic about its future performance.

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