1 Growth Stock Down 24% to Buy Right Now
Would you believe me if I told you that there was a shoe stock that has produced a monster return of 633% over the past five years? It's hard to believe, but it's true. (NASDAQ: CROX), popular for its foam clogs, has been one of the best investments to own in recent years thanks to soaring sales and profits.
However, shares are down 24% (as of May 16) in a little over three weeks and still 36% off their all-time high in November 2021. Despite this negative price action, here's why it's still a leading growth stock to consider buying right now. Let's take a closer look.
For the first quarter of 2023 (ended March 31), Crocs increased revenue 33.9% to $884 million, with adjusted diluted earnings per share (EPS) rising 27.3% to come in at $2.61. On the surface, these numbers looked good. In fact, they beat what Wall Street analysts were forecasting. However, the stock is down since the financial announcement on April 27.
Source Fool.com
Crocs Inc. Stock
With 24 Buy predictions and not a single Sell prediction Crocs Inc. is an absolute favorite of our community.
With a target price of 132 € there is a slightly positive potential of 9.87% for Crocs Inc. compared to the current price of 120.14 €.
