What Happened:Shares of footwear company Crocs (NASDAQ:CROX) jumped 12.4% in the afternoon session after the company reported fourth-quarter results that exceeded analysts' revenue and EPS expectations, driven by a better-than-expected performance at both its Crocs and HEYDUDE brands. Its full-year 2024 revenue and earnings guidance exceeded Wall Street's estimates despite next quarter's earnings guidance coming in soft. For 2024, the company expects its Crocs brand to grow revenue by 5% year on year and for its HEYDUDE brand to be flat to slightly up - an improvement from the 18.5% decrease HEYDUDE posted this quarter. Zooming out, this was still a decent, albeit mixed, quarter, showing that the company is staying on track.
Is now the time to buy Crocs? Find out by reading the original article on StockStory.
What is the market telling us:Crocs's shares are quite volatile and over the last year have had 21 moves greater than 5%. But moves this big are very rare even for Crocs and that is indicating to us that this news had a significant impact on the market's perception of the business.
Crocs is up 30.4% since the beginning of the year, but at $122.24 per share it is still trading 19.1% below its 52-week high of $151.13 from April 2023. Investors who bought $1,000 worth of Crocs's shares 5 years ago would now be looking at an investment worth $4,388.