Crocs (NASDAQ:CROX) Stock Price Target Raised at Needham & Company LLC

Key Points

• Needham raised its Crocs price target to $190 from $150 and maintained a “buy” rating, implying approximately 26.45% upside from the reported share price.
• Crocs shares jumped 25.5% to $150.26 after the company reported quarterly EPS of $3.69, beating estimates of $3.31, while revenue reached $1.04 billion and rose 4.7% year over year.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and average target of $145.20, though ratings range from Goldman Sachs’ “sell” to several “buy” recommendations; CEO Andrew Rees also recently sold shares.

Crocs (NASDAQ:CROX - Get Free Report) had its target price hoisted by analysts at Needham & Company LLC from $150.00 to $190.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the textile maker's stock. Needham & Company LLC's price target indicates a potential upside of 26.45% from the company's current price.

A number of other analysts have also recently weighed in on CROX. The Goldman Sachs Group reissued a "sell" rating and issued a $95.00 price objective on shares of Crocs in a research report on Friday, July 31st. BTIG Research reaffirmed a "neutral" rating on shares of Crocs in a research report on Thursday. Wall Street Zen upgraded Crocs from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 24th. Robert W. Baird set a $163.00 price target on Crocs in a report on Friday, July 31st. Finally, Weiss Ratings upgraded Crocs from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Crocs currently has an average rating of "Moderate Buy" and an average target price of $145.20.

Crocs Stock Up 25.5%

Crocs stock traded up $30.57 during trading hours on Thursday, reaching $150.26. The stock had a trading volume of 4,894,261 shares, compared to its average volume of 1,198,449. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.99 and a beta of 1.56. The business's 50 day moving average price is $119.37 and its 200-day moving average price is $109.09. Crocs has a 52 week low of $73.21 and a 52 week high of $151.82. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.49 and a quick ratio of 0.96.

Crocs (NASDAQ:CROX - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The textile maker reported $3.69 earnings per share for the quarter, beating analysts' consensus estimates of $3.31 by $0.38. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1 billion. Crocs had a net margin of 14.64% and a return on equity of 47.75%. The company's revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $2.92 EPS. Sell-side analysts anticipate that Crocs will post 13.97 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Andrew Rees sold 19,072 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $138.91, for a total value of $2,649,291.52. Following the transaction, the chief executive officer directly owned 713,293 shares of the company's stock, valued at $99,083,530.63. This represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Beth Kaplan bought 885 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The stock was purchased at an average cost of $112.12 per share, for a total transaction of $99,226.20. Following the completion of the transaction, the director owned 15,259 shares in the company, valued at $1,710,839.08. This trade represents a 6.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.10% of the stock is owned by insiders.

Institutional Trading of Crocs

Several large investors have recently added to or reduced their stakes in CROX. BlackRock Inc. acquired a new stake in shares of Crocs during the second quarter worth about $561,223,000. Patient Capital Management LLC acquired a new position in Crocs in the 2nd quarter worth approximately $96,443,000. Bank of America Corp DE raised its position in Crocs by 130.1% during the 1st quarter. Bank of America Corp DE now owns 342,053 shares of the textile maker's stock worth $28,397,000 after buying an additional 193,426 shares during the last quarter. Pacer Advisors Inc. raised its position in Crocs by 5.7% during the 1st quarter. Pacer Advisors Inc. now owns 339,478 shares of the textile maker's stock worth $28,183,000 after buying an additional 18,220 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Crocs during the 2nd quarter worth approximately $39,610,000. Hedge funds and other institutional investors own 93.44% of the company's stock.

More Crocs News

Here are the key news stories impacting Crocs this week:

• Positive Sentiment: Q3 earnings and revenue beat estimates. Crocs reported adjusted EPS of $3.69, above the $3.31 consensus estimate, while revenue reached $1.043 billion versus expectations of approximately $1 billion. Revenue rose 4.6% year over year, and net income increased to $216.8 million. Crocs Q3 earnings and outlook article
• Positive Sentiment: Management raised its full-year outlook. Crocs now expects 2026 revenue growth of approximately 3%, up from its prior forecast of 1% to 2%. Fourth-quarter revenue is projected to increase 7% to 9% year over year, while the company also raised its profitability expectations. Crocs full-year 2026 outlook release
• Positive Sentiment: HEYDUDE showed signs of a turnaround. HEYDUDE revenue grew approximately 6.1%, reversing previous declines, while the core Crocs Brand increased revenue 4.4%. Direct-to-consumer sales rose 6.9%, supporting the view that demand remains resilient across both brands. Reuters HEYDUDE turnaround article
• Positive Sentiment: Margins and capital returns strengthened. Gross margin expanded to 66.2% from 58.5% a year earlier, operating income rose 40.6%, and Crocs repurchased roughly 2 million shares for $250 million during the quarter. Crocs financial results article
• Neutral Sentiment: Some of the earnings improvement benefited from a tariff refund, and analysts noted that growth is stronger overseas than in certain other markets. Investors may therefore look for evidence that the margin gains and HEYDUDE recovery are sustainable.
• Negative Sentiment: Recent insider activity included substantially more sales than purchases, including sales by CEO Andrew Rees. This is a secondary concern but could temper enthusiasm following the sharp rally.

About Crocs

Crocs, Inc is a global footwear company best known for its Crocs brand of casual, lightweight shoes. Its product portfolio includes clogs, sandals, slides, boots and other casual footwear, along with accessories such as Jibbitz charms, which are designed to personalize Crocs shoes.

The company was founded in 2002 and introduced its first clog that year. Crocs has expanded from its original molded footwear into a broader lifestyle brand, offering products for women, men and children through company-operated and third-party retail stores, e-commerce platforms and wholesale partners.

In 2022, Crocs completed its acquisition of HEYDUDE, adding the casual shoe brand to its portfolio.

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