Deckers Outdoor Analysts Boost Their Forecasts After Strong Earnings
Portfolio Pulse from Avi Kapoor
Deckers Outdoor Corporation (NYSE:DECK) reported Q3 earnings of $15.11 per share, surpassing estimates of $11.48, with a 44% increase from last year. Revenue reached $1.560 billion, beating estimates of $1.448 billion, a 16% growth from the previous year. The company forecasts full-year 2024 earnings between $26.25 and $26.50 per share, with revenue around $4.15 billion and a gross margin of approximately 54.5%. Following the report, DECK shares rose 2.5% to $772.85. Analysts from Telsey Advisory Group, Wedbush, and Wells Fargo have raised their price targets for DECK.
February 02, 2024 | 1:54 pm
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Deckers Outdoor Corporation reported strong Q3 earnings and revenue, surpassing analyst estimates, with shares rising 2.5%. Analysts have raised their price targets following the earnings report.
Deckers Outdoor's strong Q3 earnings and revenue beat, along with raised full-year 2024 forecasts and increased analyst price targets, indicate a positive short-term impact on DECK's stock price. The company's record quarter and the analysts' responses suggest investor confidence and potential stock price appreciation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100