Where Will Crocs Stock Be In 3 Years?
After a pandemic-fueled surge that helped propel sales 13% in 2020 and 67% in 2021, (NASDAQ: CROX) has been facing a bit of a slowdown. Revenue was up just 15% in 2022 (excluding the HeyDude segment, which was acquired in February 2022), and in the latest period (first quarter 2023, ended March 31), it was the same story. Many businesses are seeing similar trends as consumer spending softens due to the uncertain macro environment.
But Crocs has still been an outstanding investment in the past, rising 233% since June 2020. Here's why I think the shoe stock might be a great portfolio addition as we set our sights on the next three years.
Any investors who are even remotely familiar with this company would probably know that the foam clog is what has driven financial results in the past. After all, Crocs is almost entirely known for this single product. But the company sells other things too, like sneakers, boots, and socks, which many investors might not know.
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 135 € there is a slightly positive potential of 10.89% for Crocs Inc. compared to the current price of 121.74 €.
