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mirror lululemon stock

rose 3% in after-hours trading Monday following its announcement that it has agreed to acquire Mirror, an in-home fitness company that created an interactive workout platform, for $500 million. There are six types of retirees — which are you. The stock has outperformed in 2020, having risen 36% year to date, thanks to the popularity of athleticwear while people work at home during the Covid-19 pandemic. The athleisure company’s first acquisition is a bet on the future of fitness and a way to further tie into the lives of its customers. Mirror Home Gym review: This $1,500 Peloton rival is practical, but imperfect Mirror is a world of strenuous workout classes that looks like home decor $74.5M. Copyright © 2021 MarketWatch, Inc. All rights reserved. 2016. Notable Investors. The … Home-fitness company Mirror, which sells a full-length mirror with an interactive display, featuring a camera and speakers, has raised $34 million from investors including Lululemon. In June this year, Lululemon acquired Mirror, a lifestyle fitness company for $500 million. Last quarter, lululemon athletica (NASDAQ:LULU) got in the game with the $500 million acquisition of Mirror, a maker of premium digital workout displays, and it … The addition of Mirror offers Lulu a “place in the home with its hardware + content,” as well as “daily mindshare and a platform for its 2000+ ambassadors and events,” Cowen added. Lululemon Athletica stock is rising after hours, following news that the athletic apparel maker is acquiring a … Duffy is hopeful that Mirror will “further improve” Lulu’s digital competencies, and he appreciates its efforts to reach “new and existing customers on a new platform that has seen solid traction particularly throughout the pandemic,” with total downloads up 62% since March 1. Before it's here, it's on the Bloomberg Terminal. Shares of sports retailer Lululemon Athletica Inc. The Mirror platform has a “massive TAM [total addressable market], significant revenue synergies and lower customer acquisition costs” that should produce high growth and returns, according to Cowen. Analysts are bullish on Lululemon Athletica Inc. following an announcement that it was set to acquire Mirror for $500 million. Summary. Raymond James rates Lululemon stock strong buy with a $400 price target, up from $335, saying the company is poised for acceleration in 2021 for a … On June 29, Lululemon Athletica (NASDAQ:LULU) announced a strategically important move to acquire MIRROR for $500 million. Lululemon (NASDAQ: LULU) has been lagging since the company reported earnings in early June. The Mirror acquisitions adds “yet another way that Lululemon will personally engage with customers and provides opportunities for personal interactive commerce for consumers as well.”, Poser sees “strong synergies” becoming “evident over the next one to two years.”, Investors have been looking for further expansion beyond Lulu’s current addressable market, and with Mirror it now has an avenue to bring new users into the “experiential sweatlife, to increase consideration and conversion among existing guests (and their families/roommates), and to further enhance the company’s experiential membership program still in very early days.”, “The widening TAM with the Mirror acquisition appears very compelling in [the] context of global health, end-to-end connected omnichannel ecosystems, and augmented reality deployment.”. is up 3% this year. The S&P 500 Index has dropped 5.3% thus far this year. The COVID-19 earnings recession is expected to remain, but an end may be in sight, 4 financial resolutions that you can set (and actually keep) in 2021. Read More: Lululemon Hits Record on High Hopes for Athleisure Trend. This is Lulu’s first acquisition. Why Its Stock Is Rising. Shares gained as much as 8%, the biggest intraday advance since April 17. Lululemon Athletica shares rose the most in more than two months on Tuesday after the yoga-wear maker agreed to buy Mirror, a producer of in-home fitness equipment, for $500 million. Mirror basically makes a mirror that works as a giant iPad for fitness classes. What is The Mirror? Tesla Inc. got a another bullish endorsement Friday from Wedbush's prolific analyst Dan Ives, who raised his stock price target by 33%, but he still won't recommend investors buy the stock. Buzzy exercise startup Mirror agreed to sell to Lululemon… Lululemon to Buy Mirror, a Fitness Start-Up, for $500 Million. Lululemon Buys Peloton Competitor Mirror. Founded. The deal builds on a business relationship that began in mid-2019, with an initial investment in Mirror by Lululemon. Mirror has developed weekly live classes and thousands of on-demand workouts as well as immersive one-on-one personal training. How much money was President Trump’s Twitter account worth? MIRROR Stock. However, LULU stock caught a bid on June 30, on news that it will acquire Mirror for $500 million.Source: Sorbis / Shutterstock.com Shares closed off the highs, but still climbed 6% on the day. With about 50% of overlap between Mirror and Lulu customer bases, Kernan sees “significant opportunity to expand awareness of Mirror and build membership and product conversion/commerce for Lulu.”. My parent had early-onset Alzheimer’s, and I’m afraid I will get it too. SPX, Shares of Lululemon are up 27% in 2020. A good example is Lululemon's recent acquisition of Mirror, which competes with Peloton in the $500 billion global market for physical activity. Norway Raises Concern Over Vaccine Jabs for the Elderly, Edmond de Rothschild Holding’s Chairman Dies at 57, Norway Warns of Vaccination Risks for Sick Patients Over 80, Inside Cyberpunk 2077's Disastrous Rollout, Los Angeles Covid Cases Top 1 Million as Outbreak Worsens. Lululemon Athletica Inc. is buying at-home fitness company Mirror for $500 million, a deal that aims to capitalize on pandemic-fueled upheaval in the fitness and retail industries. Follow him on Twitter @jswartz. The Mirror lets you sync your music via Bluetooth and measure your heart rate. Lululemon’s acquisition of Mirror, the home-fitness startup that streams workouts through a mirror-like device, for a reported $500 million last week, is pure omnichannel retailing gold. About MIRROR Stock. The broader S&P 500 index Rates outperform, price target to $335 from $311. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. The Mirror purchase transforms Lululemon from a traditional retailer into a subscription-based firm with strong recurring revenues. The Mirror is the nearly invisible home gym that transforms less than 2 feet of wall space into a cardio class, yoga studio, boxing ring, and so much more. Lulu’s “best-in-class” liquidity positioning will be sufficient to fund the transaction and still leave “ample room” to support business operations. Mirror is an interactive workout platform that looks like a mirror when it isn’t in use, but becomes a screen showing fitness classes and more when activated. A brand now owned by the fitness apparel company, lululemon, Mirror sells a $1,500 smart workout machine that aims to bring the advantages of a brick-and-mortar fitness studio into the comfort of your home. Mirror has a “lean” financial model and a “multi-faceted” value proposition compared to others in the At-Home Fitness market. Lululemon Shares Jump After $500 Million Deal To Mirror Mirror, one of the key challengers to Peloton Interactive in the at-home fitness market, will be … Lululemon stock rose Tuesday after Deutsche Bank suggested that the yoga apparel and accessories maker might have had a stronger holiday season than … How do I split my estate between my girlfriend and daughter? -0.72% Have a confidential tip for our reporters? Here’s what analysts are saying about the acquisition: “We see a large base of consumers willing to pay for premium fitness/lifestyle content and a financial model that likely has meaningful opportunity to leverage fixed costs as it scales.”. +13.05 +0.35% Lululemon Athletica shares rose the most in more than two months on Tuesday after the yoga-wear maker agreed to buy Mirror, a … Lululemon. Fitness Technology Startup. Jamel Toppin for Forbes. 7 Tech Stocks to Buy for a Very Happy Holiday Season Lululemon is beating earnings estimates, even during the pandemic, and keeps expanding its reach. “Recognizing the Work Out From Home surge, the idea behind the acquisition makes perfect sense,” however, it “remains to be seen” what each company ultimately does for each other. Headquarters. Jon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Tesla’s new $950 stock price target at Wedbush is the highest on Wall Street, but the analyst still won’t say buy, Plug Power stock set to snap long win streak after J.P. Morgan says it is 'fully valued', Fear of new virus variant pushes U.S. toward more genomic sequencing. How much money was President Trump ’ s, and previously worked Barron... Your heart rate six types of retirees — which are you personalized in-home fitness. a catalyst both... 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