Why Crocs Stock Popped Today
Shares of Crocs (NASDAQ: CROX) skyrocketed 20.3% on Monday after the footwear company updated its fourth-quarter and full-year 2023 outlook citing strong holiday-season sales.
In a press release Monday morning, Crocs told investors it now expects fourth-quarter 2023 revenue to increase 1% year over year, well above previous guidance for a decline of negative 4% to negative 1%. Crocs' fourth-quarter strength was driven entirely by its namesake brand, which grew sales nearly 10% and more than offset a 19% decline from its HEYDUDE segment.
Crocs' CEO Andrew Rees called it a "successful holiday season with market share gains for both brands."
Source Fool.com
Crocs Inc. Stock
€123.32
0.510%
The stock is an absolute favorite of our community with 25 Buy predictions and no Sell predictions.
As a result the target price of 135 € shows a slightly positive potential of 9.47% compared to the current price of 123.32 € for Crocs Inc..
