Piper Sandler Upgrades Crocs, Inc. to 'Buy' with a $150 Target
Piper Sandler's Anna Andreeva raised Crocs' rating to 'Buy' with a $150 price target, a 23.91% upside from the current price.
Key Points
- Piper Sandler analyst Anna Andreeva upgraded Crocs, Inc. (CROX) to 'Buy' with a $150 price target on June 26, 2026.
- Piper Sandler's $150 price target implies 23.91% upside from Crocs, Inc.'s ($CROX) current $121.06 share price.
- Shares of Crocs traded at $118.88 on Friday, with a market cap of approximately $5.91 billion and a forward P/E ratio of 8.18.
- Recent insider transactions include multiple purchases by company insiders, reflecting confidence in Crocs' prospects.
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Piper Sandler analyst Anna Andreeva has upgraded Crocs, Inc. (NasdaqGS:CROX) to a 'buy' rating, setting a new price target of $150. This upgrade came on June 26, 2026, as Crocs' shares traded at $118.88 on Friday.
Piper Sandler vs. the S&P 500
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Other Institutional Activity in Crocs, Inc.
Several institutional investors have also been active in Crocs. BlackRock, Inc. increased its holdings by 123,732 shares, bringing its total to nearly 4.78 million shares valued at approximately $396.7 million, marking a 2.7% increase. FMR LLC reduced its position by 477,236 shares, resulting in a total of about 3.76 million shares worth $311.9 million, a decrease of 11.3%. Meanwhile, Vanguard Capital Management LLC and Vanguard Portfolio Management LLC both opened new positions in Crocs, with each holding over 2 million shares valued at $180.8 million and $173.1 million, respectively.
Crocs, Inc. Stock Down 1.0%
Shares of Crocs traded near $118.88 on Friday. The company has a market cap of approximately $5.91 billion. Its forward P/E ratio stands at 8.18, and it has a beta of 1.557, indicating higher volatility compared to the market. The stock's 52-week range is between $73.21 and $129.79, with a 50-day moving average of $111.09 and a 200-day moving average of $91.29. Crocs maintains a current ratio of 1.67 and a quick ratio of 0.94, with a debt-to-equity ratio of 120.88.
$CROX price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
In its latest earnings report, Crocs reported revenue of about $4.02 billion, with a slight decline in revenue growth of -1.7%. The company posted a net margin of -2.58% and a return on equity of -6.11%. Crocs is set to announce its next earnings on August 6, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
2 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 5.8%. Revenue met estimates.
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Profit surprise
EBITDA met by 2 percent. Operating income met by 1 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
2 target raises.
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Earnings quality
Gross margin down 1.0 points. Operating margin down 2.0 points. Positive free cash flow.
Earnings Call Summary
Crocs delivered a better than expected first quarter with 921 million dollars in revenue, aided by strong direct to consumer growth across both brands and new product launches like the LEGO brick clog and ballet flats. The Crocs brand declined 2 percent overall but DTC grew 11 percent as consumers embraced newness, while HEYDUDE brand dropped 13 percent but its DTC channel grew 8 percent. Management is confident in international expansion and returning both brands to growth in the second half despite headwinds from Middle East conflict and elevated shipping costs.
Guidance Crocs now expects full year revenue between 1.465 and 1.485 billion dollars, slightly above prior expectations. The company raised earnings per share guidance to 13.20 to 13.75 dollars for the year. For the second quarter, Crocs expects revenue to be down slightly, with earnings per share of 4.15 to 4.35 dollars.
Solid report. Results were generally better than expected, but the forward outlook did not materially change.
Insider Buying and Selling at Crocs, Inc.
Recent insider activity at Crocs includes several purchases. On June 9, 2026, insiders such as Thomas Smach, John Replogle, Charisse Ford Hughes, Beth Kaplan, Ronald Frasch, and Neeraj Tolmare bought shares, indicating a vote of confidence in the company's future.
Analysts Set New Price Targets
On June 26, 2026, Piper Sandler upgraded Crocs to a 'buy' with a $150 price target. On June 15, Stifel maintained a 'hold' rating with a $125 target. Earlier, on June 8, Baird also upgraded the stock to 'buy' with a $150 target. Meanwhile, the consensus among analysts is a 'buy' rating, with a mean target price of $121.42 across 12 analyst opinions.
About Crocs, Inc.
Crocs, Inc., headquartered in Broomfield, Colorado, designs and sells casual footwear and accessories under the Crocs and HEYDUDE brands. Founded in 1999, the company offers a variety of products, including clogs, sandals, loafers, and more, through wholesale, retail, and e-commerce channels. Crocs employs over 8,000 people and is led by CEO Andrew Rees.
Bottom Line
Piper Sandler's recent upgrade of Crocs to 'buy' with a $150 target reflects growing confidence in the company's potential. Investors are closely watching Crocs as it navigates market challenges, and insider buying signals optimism among company leaders. As always, it's important to remember that analyst ratings and 13F filings are backward-looking and may not reflect current market conditions.
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