RH shares at last check jumped 15% to $702.79. The Corte Madera, Calif., company's stock on April 29 touched a 52-week high above $733.
Analysts at Wells Fargo raised their price target on RH to $725 a share from $700 and maintained an overweight rating.
"Another very impressive result with triple-digit demand, 78% sales growth and 8.5%/11.3% increases in the fiscal 2021 sales/EBIT outlooks," analyst Zachary Fadem said.
Cowen analyst Max Rakhlenko maintained his outperform rating while lifting the price target to $750 from $680.
The retailer's wider margins are "here to stay," the analyst wrote. Rakhlenko expects RH to maintain a "full-price model and maintain its luxury positioning and brand equity."
At Jefferies analyst Jonathan Matuszewski reiterated a hold rating while raising his price target to $620 from $500.
He says the company's results beat even "lofty buy-side expectations." Sales were supported by wide-margin luxury and secondary home renovations, a record stock market and low interest rates.
RH's strong EBIT-margin expansion outlook makes the stock "worthy of a multiple above public furniture peers," he said.
But current price-to-earnings levels "[feel] lofty and we'd look for a better entry," according to Matuszewski.
On Wednesday after the market closed, RH raised its revenue guidance. The company now expects revenue growth between 25% and 30% in 2021 compared with its prior outlook for growth between 15% and 20%.