Shares of Deckers Outdoor Corp (NYSE:DECK) rallied in early trading on Friday, after the company reported strong earnings for its fiscal first quarter.
Here are some key analyst takeaways.
- Needham analyst Tom Nikic reaffirmed a Buy rating, while raising the price target from $120 to $128.
- Telsey Advisory analyst Dana Telsey reaffirmed a Market Perform rating and price target of $120.
Check out other analyst stock ratings.
Needham: Deckers Outdoor posted better-than-expected results and provided "encouraging commentary about the state of both brands," Nikic said in a note. Hoka seems poised for a recovery in the US DTC business, he added.
Hoka grew by 20% in the fiscal first quarter, which was significantly better than expected, the analyst stated. "While growth was very skewed to wholesale (+30% vs. DTC +3%), DTC trends improved as the quarter progressed," he further wrote.
Telsey Advisory Group: Deckers Outdoor reported strong results for the fiscal first quarter, with earnings of 93 cents per share coming in above the consensus of 68 cents per share, Telsey said. Net sales grew 16.9% to $964.5 million, higher than market expectation of $900.4 million, she added.
The company guided to net sales of $1.38-$1.42 billion for the fiscal second quarter, up 5%-8% year-on-year, the analyst stated. Management refrained from providing guidance for the full year due to the macro environment remaining uncertain and the "fluid global trade policy situation," she added.
Price Action: Shares of Deckers Outdoor had risen by 12.42% to $118.03 at the time of publication on Friday.
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