Birkenstock: Accelerating Global Demand and Disciplined Cost Management Underpin Buy Rating Despite Conservative FY26 Outlook

William Blair analyst Sharon Zackfia has reiterated their bullish stance on BIRK stock, giving a Buy rating on December 16.

Sharon Zackfia has given his Buy rating due to a combination of factors that highlight Birkenstock’s stronger-than-expected operational momentum in the fourth quarter. The company delivered its fastest constant-currency revenue growth of the fiscal year at 20%, supported by a notable pickup in volume as unit sales returned to low double-digit growth amid healthy demand and strong wholesale sell-through. In addition, disciplined cost management more than offset headwinds from currency and tariffs that pressured gross margin, underscoring management’s ability to protect profitability despite macro and FX challenges.

Sharon also emphasizes the quality of the growth mix, with modest average selling price gains driven by pricing and favorable product assortment, even as wholesale grew faster than direct-to-consumer. All major regions posted solid double-digit increases, with especially robust expansion in APAC and healthy performances in EMEA and the Americas, reinforcing the brand’s global resonance and long runway for international penetration. While fiscal 2026 projections may sit below current consensus on both revenue and earnings, Sharon’s Buy rating reflects confidence that Birkenstock’s accelerating demand, balanced channel strategy, and effective cost control can support attractive long-term growth and shareholder value creation.

According to TipRanks, Zackfia is a 4-star analyst with an average return of 6.5% and a 48.14% success rate. Zackfia covers the Consumer Cyclical sector, focusing on stocks such as Planet Fitness, Royal Caribbean, and Birkenstock Holding plc.

In another report released on December 16, BTIG also reiterated a Buy rating on the stock with a $72.00 price target.