NEW YORK (TheStreet) -- Shares of Under Armour (UA) - Get Report  are continuing to soar, up 22.10% to $83.74 on Thursday, after its latest quarterly earnings blew away investors, defying concerns that its sales would be impacted by weak demand given the warmer-than-expected winter. 

More than 15 million shares were changing hands around 3: 25 p.m., about five times higher than its average trading volume.

Before the markets open today, Under Armour reported a profit of 48 cents a share for the fourth quarter of fiscal 2015, beating analysts' estimates by 2 cents. Revenue came in at $1.17 billion, also higher than the expected $1.12 billion.

One of its biggest growth catalyst was a 95% increase in footwear sales, thanks to high demand for basketball star Stephen Curry's signature basketball line. In September, Curry extended his contract with Under Armour through the 2024 season.

Year-over-year, earnings grew by 20% and sales soared 31% due to strong footwear and apparel sales. 

Looking ahead, 2016 revenue is anticipated to be $4.95 billion, topping analysts' forecasts of $4.91 billion.

Separately, TheStreet Ratings currently has a Hold rating on the stock with a letter grade of C+.

The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share and increase in net income. However, as a counter to these strengths, weaknesses includr premium valuation, weak operating cash flow and disappointing return on equity.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

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