Crocs (CROX) Likely to Beat but Multiple Expansion Seems Unlikely - UBS

UBS analyst Jay Sole reiterated a Neutral rating and $95.00 price target on Crocs (NASDAQ: CROX) on the belief that fundamentals remain strong leading the company to a 5c 1Q22 EPS beat.

The analyst stated "Our view is a 1Q22 beat and small guidance raise could push sell-side EPS estimates slightly higher. This likely gives the stock a small boost, in our view. At the same time, we doubt the event drives CROX's P/E higher. We think the market will continue to worry about looming macro headwinds and fashion risk, despite solid 1Q22 fundamentals. This should keep CROX's P/E rangebound. The options market is pricing in a +/- 9.7% jump over the event vs. a 9.6% historical avg. move. We doubt the stock moves more than 9.7%."

For an analyst ratings summary and ratings history on Crocs click here. For more ratings news on Crocs click here.

Shares of Crocs closed at $72.32 yesterday.

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