Dollar Tree (Nasdaq: DLTR) delivered a strong performance in the third quarter of 2022, with revenue and profit up 8% and 25%, respectively. For a user who has been closely monitoring the company’s website traffic through his website traffic tool at TipRanks, this upbeat result comes as no shock.
According to the tool, web traffic to dollartree.com increased 62.96% year over year during the quarter. The surge in website visits indicates that Dollar Tree could benefit from strong demand for its products, and the third quarter results confirmed the same.
The company’s Q3 traffic jumped from 26.5 million to 43.1 million year-over-year, with August having the highest number of website visits. Dollar Tree appears to be profiting from its new pricing policy and efforts to introduce products that meet consumer needs.
On fourth-quarter trends, management expects to report net sales in the range of $7.54 billion to $7.68 billion, compared to $7.08 billion reported in the same quarter last year doing. Given the inflationary environment, the company is trying to focus more on consumables.
Interestingly, the TipRanks website traffic tool shows a positive trend in October. Year-to-date total unique visitors are up 81.93% from the same period last year.
Is Dollar Tree a stock trade?
On TipRanks, DLTR has a medium buy consensus rating based on 10 buys, 5 holds, and 1 sell. A DLTR average price target of $164.40 implies a 9.5% upside potential. The stock has gained 6.4% over the past year.
thoughts of the end
Despite macro uncertainty and cost pressures, Dollar Tree remains optimistic about topline performance in 2022. DLTR stock also scored an 8 out of 10 on TipRanks’ smart score rating system, suggesting that the stock is likely to outperform the market average.
The vigilance of website trends shown by the TipRanks website traffic tool can guide investors in making wise investment decisions.
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