Shares in Target (TGT) have surged 18% so far this year. That's on the back of stellar earnings results for the fourth quarter. America's second-largest discount chain reported that its 2020 sales grew by over $15 billion, with strong holiday shopping and improved in-store figures. However, the retailer declined to provide future guidance. Here's where Similarweb steps in. We can use our powerful alternative data to track Target's key first-quarter digital data trends.
Notably, KeyBanc analyst Bradley Thomas is bullish on Target going into the print. He cites the company's significant investment in digital capabilities and the facilitation of easy order pickup and delivery. According to the analyst, both these trends will outlast the pandemic.
So what does the digital data reveal? Let's take a closer look at this retail giant – and how it stacks up against its major rivals