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Investing.com - Evercore ISI raised its price target on Deckers Outdoor (NYSE:DECK) to $115.00 from $110.00 on Friday, while maintaining an "In Line" rating on the stock. According to InvestingPro data, DECK currently trades at an attractive PEG ratio of 0.55 and maintains a perfect Piotroski Score of 9, indicating strong financial fundamentals.
The price target increase follows Deckers’ first-quarter fiscal 2026 revenue beat, with reported revenues of $965 million exceeding Evercore ISI and Street estimates by $56 million and $64 million, respectively. Evercore noted that $40 million of the beat came from wholesale timing shifts from the second quarter into the first quarter. The company’s strong performance is reflected in its "GREAT" financial health rating on InvestingPro, which offers 10+ additional exclusive insights about DECK’s financial position.
Excluding these timing shifts, Deckers’ underlying revenue growth would have been 12.0%, still ahead of Evercore ISI and Street expectations of 10.1% and 9.1%, respectively. The HOKA brand showed underlying revenue growth of 15.2%, with wholesale revenues up approximately 23% and direct-to-consumer revenues increasing 3%. This performance aligns with DECK’s impressive trailing twelve-month revenue growth of 16.28%.
UGG brand underlying revenues grew 12.2%, outpacing estimates of 8.4% from Evercore ISI and 6.6% from the Street. UGG’s wholesale underlying revenues increased approximately 20%, while direct-to-consumer revenues rose 3%.
Earnings per share reached $0.82, which included a $0.11 lift from the timing shift, compared to Evercore ISI and Street estimates of $0.67 and $0.68, respectively.
In other recent news, Deckers Outdoor Corporation reported impressive first-quarter fiscal 2026 results, with earnings per share reaching $0.93, significantly surpassing the forecasted $0.68. The company’s revenue also exceeded expectations, totaling $965 million against a projected $900.31 million. Both the HOKA and UGG brands contributed to this strong performance, although HOKA’s U.S. direct-to-consumer business experienced a year-over-year decline. Following these results, Raymond (NSE:RYMD) James raised its price target for Deckers Outdoor to $137 from $123, maintaining a Strong Buy rating. Additionally, Deckers Brands has nominated Patrick J. Grismer for election to its Board of Directors, as Dave Powers plans to retire after over nine years of service. Grismer brings extensive financial leadership experience from roles at companies like Starbucks (NASDAQ:SBUX) and Hyatt. These developments underscore Deckers’ ongoing strategic initiatives and strong financial performance in the recent period.
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