Jun. 26 at 11:49 PM
Piper Sandler upgraded Crocs (NASDAQ: CROX) to Overweight from Neutral and raised its price target to
$150 from
$95, citing improving demand trends in North America, early signs of wholesale stabilization, and an attractive valuation.
The firm said Crocs' North America direct-to-consumer (DTC) business returned to mid-single-digit growth in the first quarter of 2026, its strongest performance since Q2 2024, while the Heydude brand is showing encouraging signs of recovery. Piper also noted that Crocs has exceeded consensus earnings estimates by an average of 14% over the past four quarters, suggesting further upside to earnings expectations.
The brokerage expects product innovation, easier year-over-year comparisons, and stronger consumer engagement to support continued momentum. New product launches, brand collaborations, and improving traction for Heydude among male shoppers have helped drive demand.
$CROX