Crocs downgraded to Equal Weight from Overweight at Barclays

Barclays downgraded Crocs (CROX) to Equal Weight from Overweight with a price target of $81, down from $119. FY25 guidance remains withdrawn, but Q3 guidance came in “well below” expectations as “self-directed channel cleansing,” tariffs, and a weakening consumer weigh on margins, the analyst tells investors. The firm cites ongoing macro uncertainty, a shift to athletic footwear purchasing behavior in the U.S. consumer base, and the ongoing and worsening HEYDUDE drag in its downgrade.