Crocs price target lowered to $79 from $101 at B. Riley

B. Riley lowered the firm’s price target on Crocs to $79 from $101 and keeps a Neutral rating on the shares post the Q3 report. At the low end, Crocs issued Q4 guidance that was 12% and 25% below its previously issued Q4 guidance on a revenue and EBITDA basis, respectively, the analyst tells investors in a research note. The firm says this marks the third consecutive quarter where the company has beaten its guidance for the current quarter and taken its forward guidance down in full or in part.