Why Crocs Shares Are Trading Higher Today

Crocs CROX shares are trading higher after the company reported better-than-expected first-quarter EPS and sales results. The company also guided second-quarter sales growth of 60%-70% compared to 2020.

The company reported first-quarter revenues of $460.1 million, up 60.5% on a constant currency basis, with digital sales growing 75.3% to represent 32.3% of revenue.

Additionally, Piper Sandler raised their price target from $104 to $140.

Crocs Inc is engaged in the design, development, marketing, distribution, and sale of casual lifestyle footwear accessories for men, women, and children. The reportable geographic segments of the company include Americas, Asia pacific, and EMEA.

Crocs shares were trading 18% higher at $100.04 at the time of publication. The stock has a 52-week low of $19.98 and a 52-week high of $100.30.