KeyBanc analyst Ashley Owens maintains $Crocs (CROX.US)$ with a buy rating, and adjusts the target price from $155 to $150.
According to TipRanks data, the analyst has a success rate of 39.4% and a total average return of -9.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Crocs (CROX.US)$'s main analysts recently are as follows:
Crocs' third-quarter results surpassed expectations in terms of sales, operating margin, and earnings per share. Despite these positive outcomes, the forecast for fiscal 2024 EPS was not increased as the company narrowed its guidance for most metrics. Additionally, the fourth-quarter guidance was significantly below expectations, affecting the full-year outlook. This is partly due to challenging macroeconomic conditions and the HEYDUDE brand taking more time to recover.
Expectations have been set for a more challenging spending landscape both in North America and China. Despite this, it is anticipated that Crocs' Direct-to-Consumer performance in North America will stay in the positive territory during Q4, although moderated by an extended period of softer performance from HEYDUDE. While the forecast for FY24 earnings per share remains unchanged, the projection for FY25 has been adjusted to reflect further investments aimed at stabilizing HEYDUDE.
The firm has adjusted its perspective on Crocs following a third-quarter performance that surpassed expectations, coupled with an updated outlook for the full year. The increase in revenue was primarily fueled by a 7.4% year-over-year growth in the Crocs brand, although HEYDUDE's performance fell short of forecasts. Crocs has now modified its full-year revenue growth projection to approximately 3%, citing a shift in the fourth quarter for HEYDUDE. This change is attributed to the reallocation of market resources from performance to brand emphasis within digital channels and subdued wholesale transactions.
Note:
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