On June 26, Crocs rose 5.34% in regular trading, trading at $124.76/share, with turnover of $23.14 million.
On the news front, Piper Sandler upgraded Crocs from Neutral to Overweight and raised its price target significantly from $95 to $150. This marks the second major investment bank upgrade in recent weeks — Baird similarly upgraded the stock from Neutral to Outperform in early June with a $150 target, when shares rose over 2%. According to FactSet, Crocs now carries an average analyst rating of Overweight with a mean price target of $126.
Fundamentally, the upgrades are underpinned by strong Q1 results reported in late April, with adjusted EPS of $2.99 beating the $2.77 consensus by approximately 8%, while revenue of $921.5 million also exceeded the $900.9 million estimate. The company guided full-year adjusted EPS to $13.20-$13.75, well above prior Street expectations. Additionally, the company has been executing a $100 million cost savings plan announced earlier, aimed at enhancing operational efficiency across supply chain management and digital transformation.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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