Bank of America Securities analyst Christopher Nardone reiterated a Buy rating on Crocs today and set a price target of $98.00.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Christopher Nardone has given his Buy rating due to a combination of factors that suggest a favorable risk/reward scenario for Crocs. Despite a disappointing second quarter, Nardone anticipates that the third quarter will mark the low point in sales, with improvements expected as the company progresses towards 2026. He forecasts a sequential improvement in Crocs brand revenues in the fourth quarter, driven by better international results, and sees potential for revenue growth to bottom out in the third quarter.
International sales, which represent a significant portion of Crocs’ revenue, are expected to rebound in the fourth quarter and beyond, particularly in markets like China, India, and Western Europe. Additionally, the appointment of a new CFO with extensive footwear experience is seen as a positive development, reinforcing confidence in the company’s ability to meet its guidance. While there are risks such as increased competition and potential consumer discount-seeking behavior, Nardone remains optimistic about Crocs’ growth prospects and maintains a price objective of $98.