Needham analyst Tom Nikic has maintained their neutral stance on SHOO stock, giving a Hold rating on December 2.
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Tom Nikic has given his Hold rating due to a combination of factors. During a recent visit to Steven Madden’s NYC showroom, the management team expressed optimism about the current fashion trends, which appear to be favorable for the company. This positive outlook has led to a more favorable fundamental view of the company.
However, despite this optimism, the stock has experienced a significant price increase of 82% since August, which is much higher compared to the broader market’s 8% rise. This sharp increase in share price suggests that the stock may be overvalued at its current level, prompting a Hold rating as the analyst waits for a more attractive valuation to emerge before recommending a buy.
In another report released on December 2, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $46.00 price target.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SHOO in relation to earlier this year.