3 Reasons Crocs Beat Your Favorite Stock This Earnings Season
One of this week's early winners is (NASDAQ: CROX). The maker of footwear that's easier on the feet than it is on the eyes jumped 8% higher on Tuesday after posting better-than-expected results for the first quarter.
It seems Crocs doesn't get the respect it deserves as an investment. Its distinctive yet fashionably polarizing clogs are often the butt of a joke, but its investors seem to be laughing all the way to the bank. The stock is a six-bagger over the past five years, including a 46% surge so far in 2024. Let's take a closer look at why Crocs is taking off after this week's financial update.
Revenue rose 7% to $939 million during the first three months of this year. This may not seem like an applause-worthy showing, but it's worth noting where Crocs' head was at back in February. Crocs was targeting top-line results between a decline of 1.5% and an uptick of 0.5% for the first quarter. It was a beat of 750 basis points over the midpoint of its guidance.
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.
On the other hand, the target price of 140 € is below the current price of 143.48 € for Crocs Inc., so the potential is actually -2.43%.
