William Blair analyst Sharon Zackfia has maintained their bullish stance on BIRK stock, giving a Buy rating on May 9.
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Sharon Zackfia has given her Buy rating due to a combination of factors including Birkenstock Holding plc’s impressive second-quarter performance, which surpassed expectations in both revenue and profit. The company reported a 19% increase in revenue, exceeding its full-year guidance and maintaining a consistent growth trend over the past six quarters.
Additionally, the growth was driven by a significant rise in the number of pairs sold and an increase in average selling prices, particularly in closed-toe shoes. This growth was observed across all regions, with the Americas showing a remarkable 23% revenue increase. The balanced expansion across wholesale and direct-to-consumer channels, supported by strong digital and retail trends, further underpins the positive outlook for Birkenstock.
In another report released on May 9, Telsey Advisory also maintained a Buy rating on the stock with a $70.00 price target.