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Why Deckers (DECK) Stock Is Trading Up Today

October 25, 2024 at 11:29 AM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

DECK Cover Image

What Happened?

Shares of footwear and apparel conglomerate Deckers (NYSE: DECK) jumped 14.7% in the pre-market session after the company reported a "beat and raise" quarter. Third-quarter results blew past analysts' constant currency revenue expectations. Its revenue also outperformed Wall Street's estimates, benefiting from strong consumer demand for its HOKA and UGG brands. Moving on, the company also raised its full-year guidance for revenue and EPS, capping off a great quarter. Overall, it was an impressive quarter for the company. Skechers, a footwear peer, also reported strong results, suggesting consumer demand for athletic and casual footwear is holding up despite some mixed signals in spend in other categories.

Is now the time to buy Deckers? Access our full analysis report here, it’s free.

What The Market Is Telling Us

Deckers’s shares are not very volatile and have only had 8 moves greater than 5% over the last year. Moves this big are rare for Deckers and indicate this news significantly impacted the market’s perception of the business.

The biggest move we wrote about over the last year was 3 months ago when the stock gained 13.6% on the news that the company reported strong second-quarter earnings results. Deckers blew past analysts' EPS expectations. In addition, its constant currency revenue outperformed Wall Street's estimates. The top line was powered by strong demand for the HOKA brand, with sales up 30% year on year. On the other hand, its full-year revenue and earnings guidance missed. Overall, this was a mixed yet decent quarter for the company, and shareholders should feel optimistic.

Deckers is up 50.5% since the beginning of the year, and at $169.06 per share, it is trading close to its 52-week high of $182.32 from May 2024. Investors who bought $1,000 worth of Deckers’s shares 5 years ago would now be looking at an investment worth $6,723.

Do you want to know what moves the business you care about? Add them to your StockStory watchlist and every time a stock significantly moves, we provide you with a timely explanation straight to your inbox. It’s free and will only take you a second.

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Why Deckers (DECK) Stock Is Trading Up Today

What Happened?

What The Market Is Telling Us

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