{"id":42905,"date":"2023-11-17T13:08:09","date_gmt":"2023-11-17T13:08:09","guid":{"rendered":"https:\/?p=42905"},"modified":"2023-11-17T13:08:09","modified_gmt":"2023-11-17T13:08:09","slug":"gap-stock-soars-after-beating-q3-earnings-estimates","status":"publish","type":"post","link":"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/","title":{"rendered":"Gap Stock Soars After Beating Q3 Earnings Estimates"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Gap Inc. (<a href=\"https:\/\/www.stocktargetadvisor.com\/stock\/USA\/NYE\/GPS\/analyst-rating\">GPS: NYE<\/a>) stock soared over 17% in extended trading yesterday after the company reported better-than-expected 3rd quarter earnings results. Gap beat Wall Street estimates for both earnings and revenue, sending its shares up as much as 18% in after-hours trading.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Key Findings from the Q3 Earnings:<\/strong><\/h2>\n<p>Here are the key highlights from the Gap Q3 earnings report:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Adjusted earnings per share<\/strong>: $0.59 vs. $0.20 consensus estimate.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Revenue<\/strong>: $3.77 billion vs. $3.61 billion consensus estimate.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Comparable-store sales<\/strong>: -2% vs. -7% consensus estimate.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Despite a 6.7% decline in year-over-year revenue, Gap&#8217;s performance was impressive considering the ongoing challenges facing the retail industry. The company&#8217;s better-than-expected results were driven by strong online sales and cost-cutting measures.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Gap&#8217;s online sales grew 12% year-over-year, reflecting the company&#8217;s continued focus on e-commerce. The company also benefited from cost-cutting measures, which helped to offset the impact of lower brick-and-mortar sales.<\/span><\/p>\n<p><!-- STA Widget BEGIN --><\/p>\n<div>\n<div class=\"sta-analyst-rating-widget-display\">\n<p><a style=\"text-decoration: none; color: #4b6db5 !important;\" href=\"https:\/\/www.stocktargetadvisor.com\/stock\/USA\/NYE\/GPS\" target=\"_blank\" rel=\"noopener\">GPS Ratings<\/a> by Stock Target Advisor<\/p>\n<\/div>\n<p><script class=\"analyst-rating\" type=\"text\/javascript\" src=\"https:\/\/www.stocktargetadvisor.com\/assets\/js\/analyst_rating_widget.js\" data-symbol=\"GPS\" data-theme=\"wt_bg_trans\" data-uid=\"19066027786557629b63e246557629b63e25\" data-width=\"700\" >\n\t\t<\/script><\/p>\n<\/div>\n<p><!-- STA Widget END --><\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Gap Sees Positive Future Outlook:\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Despite the challenges facing the retail industry, Gap is optimistic about its future. The company expects to generate full-year revenue of $13.1 billion to $13.5 billion, which would be in line with Wall Street estimates. Gap is also confident in its ability to grow its online business. The company expects its online sales to reach $5 billion by 2026, up from $3.4 billion in 2022.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Following Gap&#8217;s strong quarterly report, several analysts upgraded the company&#8217;s stock. Bank of America upgraded Gap to buy from neutral with a price target of $17 per share. Morgan Stanley upgraded Gap to overweight from equal weight with a price target of $16 per share.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Conclusion:<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Gap&#8217;s impressive third-quarter results are a testament to the company&#8217;s ongoing transformation. The company is well-positioned for future growth, thanks to its strong online business, cost-cutting initiatives, and optimistic outlook. Investors should continue to watch Gap closely as it executes its turnaround plan.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gap Inc. (GPS: NYE) stock soared over 17% in extended trading yesterday after the company reported better-than-expected 3rd quarter earnings results. Gap beat Wall Street&#8230;<\/p>\n","protected":false},"author":17,"featured_media":42909,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-42905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.4 (Yoast SEO v21.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gap Stock Soars After Beating Q3 Earnings Estimates<\/title>\n<meta name=\"description\" content=\"Gap stock soars 17% after beating Q3 earnings estimates and revenue expectations. Analyst upgrades follow!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gap Stock Soars After Beating Q3 Earnings Estimates\" \/>\n<meta property=\"og:description\" content=\"Gap stock soars 17% after beating Q3 earnings estimates and revenue expectations. Analyst upgrades follow!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/\" \/>\n<meta property=\"og:site_name\" content=\"Stock Target Advisor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/StockTargetAdvisor\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-17T13:08:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.stocktargetadvisor.com\/blog\/wp-content\/uploads\/2023\/11\/Gap-Stock-Soars-After-Beating-Q3-Earnings-Estimates.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Muzzammil Ahmad\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/x.com\/Muzzammil625\" \/>\n<meta name=\"twitter:site\" content=\"@AdvisorTarget\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Muzzammil Ahmad\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/\"},\"author\":{\"name\":\"Muzzammil Ahmad\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/person\/81d743c6903933055039390e1e98b5f8\"},\"headline\":\"Gap Stock Soars After Beating Q3 Earnings Estimates\",\"datePublished\":\"2023-11-17T13:08:09+00:00\",\"dateModified\":\"2023-11-17T13:08:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/\"},\"wordCount\":305,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#organization\"},\"articleSection\":[\"Market News &amp; Insights\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/\",\"url\":\"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/\",\"name\":\"Gap Stock Soars After Beating Q3 Earnings Estimates\",\"isPartOf\":{\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#website\"},\"datePublished\":\"2023-11-17T13:08:09+00:00\",\"dateModified\":\"2023-11-17T13:08:09+00:00\",\"description\":\"Gap stock soars 17% after beating Q3 earnings estimates and revenue expectations. Analyst upgrades follow!\",\"breadcrumb\":{\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.stocktargetadvisor.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gap Stock Soars After Beating Q3 Earnings Estimates\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#website\",\"url\":\"https:\/\/www.stocktargetadvisor.com\/blog\/\",\"name\":\"Stock Target Advisor\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.stocktargetadvisor.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#organization\",\"name\":\"Stock Target Advisor\",\"alternateName\":\"STA\",\"url\":\"https:\/\/www.stocktargetadvisor.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"http:\/\/stocktargetadvisor.com\/wp-content\/uploads\/2019\/10\/STAlogo.jpeg\",\"contentUrl\":\"http:\/\/stocktargetadvisor.com\/wp-content\/uploads\/2019\/10\/STAlogo.jpeg\",\"width\":\"225\",\"height\":\"225\",\"caption\":\"Stock Target Advisor\"},\"image\":{\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/StockTargetAdvisor\/\",\"https:\/\/twitter.com\/AdvisorTarget\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/person\/81d743c6903933055039390e1e98b5f8\",\"name\":\"Muzzammil Ahmad\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d361e040abeba4e5b47d2fb7acae1401555042a5fc6862b11d7d01ac1722fed5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d361e040abeba4e5b47d2fb7acae1401555042a5fc6862b11d7d01ac1722fed5?s=96&d=mm&r=g\",\"caption\":\"Muzzammil Ahmad\"},\"description\":\"Muzzammil is a content writer at Stock Target Advisor. He has been writing stock news and analysis at Stock Target Advisor since 2023 and has worked in the financial domain in various roles since 2020. He has previously worked on an equity research firm that analyzed companies listed on the stock markets in the U.S. and Canada and performed fundamental and qualitative analyses of management strength, business strategy, and product\/services forecast as indicated by major brokers covering the stock.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/muzzammil-ahmad-a157b1190\/\",\"https:\/\/twitter.com\/https:\/\/x.com\/Muzzammil625\"],\"url\":\"https:\/\/www.stocktargetadvisor.com\/blog\/author\/muzzammil\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Gap Stock Soars After Beating Q3 Earnings Estimates","description":"Gap stock soars 17% after beating Q3 earnings estimates and revenue expectations. Analyst upgrades follow!","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/","og_locale":"en_US","og_type":"article","og_title":"Gap Stock Soars After Beating Q3 Earnings Estimates","og_description":"Gap stock soars 17% after beating Q3 earnings estimates and revenue expectations. Analyst upgrades follow!","og_url":"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/","og_site_name":"Stock Target Advisor","article_publisher":"https:\/\/www.facebook.com\/StockTargetAdvisor\/","article_published_time":"2023-11-17T13:08:09+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-content\/uploads\/2023\/11\/Gap-Stock-Soars-After-Beating-Q3-Earnings-Estimates.jpg","type":"image\/jpeg"}],"author":"Muzzammil Ahmad","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/x.com\/Muzzammil625","twitter_site":"@AdvisorTarget","twitter_misc":{"Written by":"Muzzammil Ahmad","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/#article","isPartOf":{"@id":"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/"},"author":{"name":"Muzzammil Ahmad","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/person\/81d743c6903933055039390e1e98b5f8"},"headline":"Gap Stock Soars After Beating Q3 Earnings Estimates","datePublished":"2023-11-17T13:08:09+00:00","dateModified":"2023-11-17T13:08:09+00:00","mainEntityOfPage":{"@id":"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/"},"wordCount":305,"commentCount":0,"publisher":{"@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#organization"},"articleSection":["Market News &amp; Insights"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/","url":"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/","name":"Gap Stock Soars After Beating Q3 Earnings Estimates","isPartOf":{"@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#website"},"datePublished":"2023-11-17T13:08:09+00:00","dateModified":"2023-11-17T13:08:09+00:00","description":"Gap stock soars 17% after beating Q3 earnings estimates and revenue expectations. Analyst upgrades follow!","breadcrumb":{"@id":"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/gap-stock-soars-after-beating-q3-earnings-estimates\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.stocktargetadvisor.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Gap Stock Soars After Beating Q3 Earnings Estimates"}]},{"@type":"WebSite","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#website","url":"https:\/\/www.stocktargetadvisor.com\/blog\/","name":"Stock Target Advisor","description":"","publisher":{"@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.stocktargetadvisor.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#organization","name":"Stock Target Advisor","alternateName":"STA","url":"https:\/\/www.stocktargetadvisor.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/logo\/image\/","url":"http:\/\/stocktargetadvisor.com\/wp-content\/uploads\/2019\/10\/STAlogo.jpeg","contentUrl":"http:\/\/stocktargetadvisor.com\/wp-content\/uploads\/2019\/10\/STAlogo.jpeg","width":"225","height":"225","caption":"Stock Target Advisor"},"image":{"@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/StockTargetAdvisor\/","https:\/\/twitter.com\/AdvisorTarget"]},{"@type":"Person","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/person\/81d743c6903933055039390e1e98b5f8","name":"Muzzammil Ahmad","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d361e040abeba4e5b47d2fb7acae1401555042a5fc6862b11d7d01ac1722fed5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d361e040abeba4e5b47d2fb7acae1401555042a5fc6862b11d7d01ac1722fed5?s=96&d=mm&r=g","caption":"Muzzammil Ahmad"},"description":"Muzzammil is a content writer at Stock Target Advisor. He has been writing stock news and analysis at Stock Target Advisor since 2023 and has worked in the financial domain in various roles since 2020. He has previously worked on an equity research firm that analyzed companies listed on the stock markets in the U.S. and Canada and performed fundamental and qualitative analyses of management strength, business strategy, and product\/services forecast as indicated by major brokers covering the stock.","sameAs":["https:\/\/www.linkedin.com\/in\/muzzammil-ahmad-a157b1190\/","https:\/\/twitter.com\/https:\/\/x.com\/Muzzammil625"],"url":"https:\/\/www.stocktargetadvisor.com\/blog\/author\/muzzammil\/"}]}},"_links":{"self":[{"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/posts\/42905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/comments?post=42905"}],"version-history":[{"count":3,"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/posts\/42905\/revisions"}],"predecessor-version":[{"id":42910,"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/posts\/42905\/revisions\/42910"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/media\/42909"}],"wp:attachment":[{"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/media?parent=42905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/categories?post=42905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/tags?post=42905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}