In a report released today, Tom Nikic from Needham maintained a Buy rating on Deckers Outdoor, with a price target of $120.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Tom Nikic has given his Buy rating due to a combination of factors surrounding Deckers Outdoor’s current market position and future potential. Despite recent concerns about a slowdown in revenue growth for the Hoka brand, there are positive signs that suggest these issues are temporary. The reduction in discounted styles and strong wholesale demand indicate that the brand’s challenges may not be structural, supporting management’s outlook for a rebound.
While the stock may face short-term stagnation due to ongoing debates about the nature of Hoka’s issues, Nikic believes that clarity will emerge in the coming months. This anticipated resolution, coupled with the potential for the brand to regain momentum, underpins his optimistic view and Buy rating for Deckers Outdoor.
In another report released yesterday, Raymond James also maintained a Buy rating on the stock with a $123.00 price target.
Based on the recent corporate insider activity of 96 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DECK in relation to earlier this year.