Down Double Digits, Is It Time to Go All In on Crocs Stock?
The first time you saw them, you probably did a double-take. Many say they are unfashionable or ugly, and yet, more and more people are wearing them each and every year. Yes, I'm referring to the outlandish footwear made by (NASDAQ: CROX), the bright, colorful shoes with crazy designs.
Young people have fallen in love with this storied footwear brand since management invested heavily in celebrity marketing and brand collaborations that led to skyrocketing revenue. But even after putting up strong growth again so far this year, shares of Crocs are down 17% year to date. With the stock trading at a price-to-earnings ratio (P/E) below 10, is now the time to bet big on Crocs stock?
Crocs was a niche footwear maker for a while, doing around $1 billion in annual sales or less for many years. But then everything changed when Andrew Rees took over as CEO in 2017. Rees employed a two-tier strategy that the company is still implementing to this day. First, Crocs wanted to get its footwear onto the people who can drive shoppers toward the brand: celebrities. Most famously, Crocs has a partnership with Justin Bieber, who is consistently seen wearing the company's shoes. Other influencers from across the board are now sporting the plastic shoes with holes.
Source Fool.com
Crocs Inc. Stock
With 25 Buy predictions and not a single Sell prediction Crocs Inc. is an absolute favorite of our community.
With a target price of 138 € there is a slightly positive potential of 11.78% for Crocs Inc. compared to the current price of 123.46 €.
