papersandler

Piper Sandler upgraded Crocs from "Neutral" to "Overweight" and raised its price target to $150.00 from $95.00, citing improving demand trends in North America, early signs of stabilization in the wholesale channel, and a more attractive valuation.
The investment bank said that Crocs’ direct-to-consumer (DTC) operations in North America returned to mid-single-digit growth in the first quarter of 2026, its strongest performance since the second quarter of 2024, while the Heydude brand is showing encouraging signs of recovery. The bank also believes the company’s earnings estimates are still trending upward, after Crocs beat analysts’ expectations by an average of 14% over the past four quarters.