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Investing.com - Needham raised its price target on Crocs (NASDAQ:CROX) to $100.00 from $89.00 on Friday, while maintaining a Buy rating on the footwear company’s stock. According to InvestingPro data, the company maintains impressive gross profit margins of 59.4% and shows strong financial health with an overall score of "GREAT."
The price target increase comes as Crocs announced that CFO Susan Healy will be resigning from her position effective immediately, though she will remain as an advisor through October 31. Healy had only assumed the CFO role in May 2024.
Patraic Reagan will take over as CFO effective September 22. Reagan most recently served as CFO at SharkNinja and previously spent 14 years at Nike in various roles, including Vice President and CFO of the Asia Pacific and Latin America business.
Needham expressed encouragement regarding Reagan’s extensive experience in the softlines sector, particularly highlighting his international background from his time at Nike’s APLA and EMEA businesses.
Crocs also reiterated its Q3 guidance, which Needham viewed positively given the volatility in fundamentals year-to-date. The firm’s new $100 price target is based on a 9x multiple on FY26 estimated EPS, up from the previous 8x multiple. For deeper insights into Crocs’ valuation and financial health, including 12 additional exclusive ProTips, check out the comprehensive research report available on InvestingPro.
In other recent news, Crocs Inc. reported better-than-expected financial results for the second quarter of 2025. The company posted adjusted diluted earnings per share of $4.23, surpassing the forecast of $4.02, and achieved revenue of $1.15 billion, slightly above the projected $1.14 billion. Despite these positive figures, several analyst firms have expressed concerns over Crocs’ future outlook. KeyBanc Capital Markets lowered its price target for Crocs to $95, citing outlook concerns, though it maintained an Overweight rating. Similarly, BofA Securities reduced its price target to $99 due to weak third-quarter guidance but retained a Buy rating, seeing potential for future improvements. Williams Trading downgraded Crocs from Buy to Hold, setting a new price target of $80, following the company’s guidance that fell below expectations. Barclays also downgraded Crocs from Overweight to Equalweight, cutting its price target to $81, highlighting challenges such as macroeconomic uncertainty and underperformance of the HEYDUDE brand. These developments reflect a cautious sentiment among analysts regarding Crocs’ near-term prospects.
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