Crocs price target raised to $129 from $118 at Needham

Needham raised the firm’s price target on Crocs (CROX) to $129 from $118 and keeps a Buy rating on the shares. The company reported “very encouraging” Q1 results due to its core underlying performance and positive commentary around tariffs, the analyst tells investors in a research note. Both the Crocs brands beat expectations for Q1, gross margin was strong, and free cash flow is “stellar,” contends Needham. The firm increased estimates and finds the stock’s risk/reward “very compelling.”