What's Going On With Deckers Outdoor Shares After Earnings?

Deckers Outdoor Corporation DECK shares are trading higher Friday after the company posted better-than-expected fourth-quarter financial results.

The Details:

Deckers Outdoor reported quarterly earnings of $4.95 per share which beat the analyst consensus estimate of $2.90 by 70.69%. Quarterly sales also came in above estimates at $959.758 million. 

Investors appear to be so enamored with the company's quarterly earnings that they are overlooking the company's fiscal year outlook for earnings of between $29.50 and $30.00 per share, slightly below the $30.29 consensus estimate. 

Several analysts adjusted their price targets following the print: 

• Evercore ISI Group maintained its Outperform rating and raised the price target from $960 to $1110.
• UBS analyst Jay Sole maintained Deckers Outdoor with a Buy and raised the price target from $1150 to $1265.
• Barclays maintained Deckers Outdoor with an Overweight and raised the price target from $1026 to $1089.
• Wedbush analyst Tom Nikic maintained a rating of Outperform and raised the price target from $1000 to $1030.

Related News: Hoka, Ugg Parent Deckers Outdoor Reports Blockbuster Q4 Results, Stock Climbs

DECK Stock Prediction 2024:

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Deckers Outdoor have an average 1-year price target of $1007.83, representing an expected downside of 1.68%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Deckers Outdoor, while 16 analysts have bullish ratings. The street high price target from UBS is $1265, while the street low from Stifel is $825.

DECK Price Action: According to Benzinga Pro, Deckers Outdoor shares are up 13.4% at $1,025.99 at the time of publication Friday.

Image: Nattawit Khomsanit from Shutterstock