Why Five Below's Stock Is Heating Up Today

Five Below Inc (NASDAQ: FIVE) is trading higher Friday morning after the company announced better-than-expected financial results. 

What Happened: Five Below reported first-quarter earnings of 88 cents per share, which beat the estimate of 65 cents per share. The company reported quarterly revenue of $597.8 million, which beat the estimate of $551.14 million. 

"We saw broad-based strength across our worlds, as we offered customers the extreme value, trend-right products in an amazing shopping experience they expect from Five Below. We continued to invest in our growth, opening a record 68 new stores across various states, including Utah, our 39th state," said Joel Anderson, president and CEO of Five Below. 

Related Link: Recap: Five Below Q1 Earnings

Analyst Assessment: Telsey Advisory Group analyst Joseph Feldman maintained Five Below with an Outperform rating and raised the price target from $230 to $240.

RBC Capital analyst Scot Ciccarelli maintained Five Below with an Outperform rating and raised the price target from $225 to $234.

Price Action: Five Below has traded as high as $205.28 and as low as $96.61 over a 52-week period.

At last check Friday, the stock was up 6.82% in premarket trading at $190.

Photo courtesy of Five Below.