Why Deckers Outdoor Shares Are Gaining Today
Portfolio Pulse from Nabaparna Bhattacharya
Deckers Outdoor Corporation (NYSE:DECK) shares are trading higher due to better-than-expected Q1 results. The company reported revenues of $825 million, surpassing estimates of $807.94 million. Analysts from Telsey Advisory Group and Baird maintain Outperform ratings with price targets of $1,100 and $1,075, respectively. DECK's gross margin improved to 56.9%, and operating income nearly doubled to $132.8 million. The company also raised its full-year 2025 earnings guidance and repurchased 177,000 shares.
July 26, 2024 | 1:37 pm
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Deckers Outdoor Corporation (NYSE:DECK) shares are up 11.9% following a strong Q1 earnings report. The company exceeded revenue estimates, improved gross margins, and raised its full-year earnings guidance. Analysts have increased their price targets, reflecting confidence in the company's performance.
The strong Q1 earnings report, improved gross margins, and raised full-year guidance are significant positive indicators for DECK. The increased price targets from analysts further support the bullish sentiment, leading to a likely short-term price increase.
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