Piper Sandler Upgrades Crocs Stock to Overweight, Sees 65% Upside

Key Stats for Crocs Stock

• Price change for Crocs stock: 7%
• $CROX Share Price as of Jun. 26: $128
• 52-Week High: $130
• $CROX Stock Price Target: $126

Now Live: Discover how much upside your favorite stocks could have using TIKR’s new Valuation Model (It’s free)>>>

What Happened?

Crocs (CROX) stock got a notable boost today after Piper Sandler upgraded it from Neutral to Overweight. The firm also raised its price target from $95 to $150, implying roughly 65% upside from recent levels.

• The upgrade comes on the back of improving trends across the business. Piper pointed to Crocs’ North America direct-to-consumer business returning to mid-single-digit growth in Q1 2026, its best performance since Q2 2024.
• The firm also flagged early signs that wholesale is stabilizing after a prolonged slump.
• New products are clearly working.
• Launches such as the Classic Ballet flat, the Saturday sandal, and several brand collaborations have driven stronger consumer demand.
• Meanwhile, the Heydude brand is showing early signs of recovery, with improving traction among male shoppers and better results on TikTok and its own website.

Speaking of TikTok, Piper sees it becoming a more meaningful sales driver. The firm forecasts the platform will account for about 3% of Crocs brand sales in 2026, up from 2% in 2025. That translates to around 2% of DTC growth and 1% of overall company growth.

On the cost side, Piper acknowledged tariff-related pressure on gross margins in Q2. But it believes stronger markdown discipline, supply chain efficiencies, and additional cost savings should help offset those headwinds. The firm is forecasting EPS of $13.90 for 2026 and $15.24 for 2027.

See analysts’ growth forecasts and price targets for Crocs stock (It’s free) >>>

What the Market Is Telling Us About Crocs Stock

Crocs stock has been under pressure, but the upgrade suggests the selloff may have gone too far. Piper highlighted that Crocs stock trades at just around 8 times forward earnings, which is historically cheap for a brand with this kind of consumer loyalty and global reach.

• The firm also noted that Crocs has beaten consensus earnings estimates by an average of 14% over the past four quarters. That’s a strong track record.
• Add in an active share buyback program and roughly $100 million in incremental cost savings, and the earnings setup looks solid.

Crocs stock still faces real headwinds, including tariff costs and a soft wholesale environment. But with valuation this low and momentum building in both brands, the risk-reward is starting to look more compelling.

Estimate a company’s fair value instantly (Free with TIKR) >>>

How Much Upside Does Crocs Stock Have From Here?

With TIKR’s new Valuation Model tool, you can estimate a stock’s potential share price in under a minute.

All it takes is three simple inputs:

1. Revenue Growth
2. Operating Margins
3. Exit P/E Multiple

If you’re not sure what to enter, TIKR automatically fills in each input using analysts’ consensus estimates, giving you a quick, reliable starting point.

From there, TIKR calculates the potential share price and total returns under Bull, Base, and Bear scenarios so you can quickly see whether a stock looks undervalued or overvalued.

See a stock’s true value in under 60 seconds (Free with TIKR) >>>

Looking for New Opportunities?

• See what stocks billionaire investors are buying so you can follow the smart money.
• Analyze stocks in as little as 5 minutes with TIKR’s all-in-one, easy-to-use platform.
• The more rocks you overturn… the more opportunities you’ll uncover. Search 100K+ global stocks, global top investor holdings, and more with TIKR.

Disclaimer:

Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!