Investors took an analyst downgrade to heart, and traded out of the shares. That pundit now rates the stock a hold; previously she tagged it as a buy.
Here is how Adidas AG (ADDYY) and CuriosityStream Inc. (CURI) have performed compared to their sector so far this year.
Here is how Adidas AG (ADDYY) and CuriosityStream Inc. (CURI) have performed compared to their sector so far this year.
Adidas AG (ADDYY) Q2 2024 Earnings Call Transcript
Adidas AG has reported a near doubling of profits over the second quarter after sales of its core branded goods jumped. Operating profit increased 97% to €346 million (£307 million) during the period, aided by an 11% increase in currency-neutral sales, Adidas reported on Wednesday.
The ad campaign for Adidas' new retro trainers, called the SL72s, was a nod to the 1972 Munich Olympics. That year's games are widely known for the terror attack that took place in Munich's Olympic village and resulted in the deaths of 11 Israeli athletes.
Bella Hadid has responded to the controversy surrounding her involvement in an Adidas campaign that was pulled following criticism.
Adidas has apologised to Bella Hadid after the supermodel was removed from a shoe campaign that was in reference to an Olympics at which Israeli athletes were killed by pro-Palestinian terrorists.
Bella Hadid's new Adidas campaign has been pulled after being called "sick" and an "egregious error".
Bella Hadid's new Adidas campaign has been pulled after being called "sick" and an "egregious error".
Adidas has outperformed Nike and Puma in stock price performance, with a 28% return year-to-date. Adidas reported a revenue decrease in 2023 but is projected to see growth in 2024 and 2025, with a strong Q2 performance. Buy Rating: Considering its growth prospects, strong financial data, and resilience against market fluctuations, Adidas stock is recommended with a buy rating.
I assign a Hold rating to adidas after assessing its financial performance and valuations. ADDYY's second quarter sales and operating margin were better than what the market had anticipated. But the stock is trading at demanding valuations, which have factored in the company's good Q2 results.