Pro: Crocs is a stock ‘you shouldn’t underestimate’ | Invezz
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Jul 23, 2021
- The crocs stock has hit the headlines for its performance.
- The stock has emerged as a real winner in the retail space as it is up 260% in 12 months.
- After reporting quarterly revenue, the footwear brand stock nearly doubled on Thursday.
Footwear brand Crocs, Inc. (NASDAQ: CROX) stock has gained 260% in the last 12 months. The stock emerged as a true winner in the retail space, and underestimating the stock’s performance should not be done, according to one investment pro.
Revenue nearly doubled
Thanks to the demand for footwear, Crocs stock price picked up momentum. The company reported its quarterly earnings on Thursday, and the stock soared, adding 10% after declaring earnings. The good news is that the footwear company’s revenue nearly doubled compared to last year’s earnings. According to reports, 60% sales growth is estimated in the on-going quarter.
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In an interview on CNBC’s “Trading Nation” on Thursday, Chantico Global CEO Gina Sanchez said:
“They are so cheap relative to other retailers, particularly footwear. They’re trading at 20 times forward PE, 22 times trailing which is to say that they’re expecting great growth, and that growth is not yet priced into the stock.”
In the same interview, calling it an interesting stock, she reiterated not to “underestimate this stock.”
According to reports, the stock is expected to register a $5.80 share profit for the year, 80% higher than last year.
Crocs, Inc. stock doing well post-pandemic
Crocs stock is beyond any doubt doing well after the pandemic. Seconding this opinion is President of Blue Line Capital Bill Baruch, who said:
“The company has done everything right – everything from celebrity sponsors, they’ve done a great e-commerce pivot during the pandemic and another great earnings report here with accelerating growth. I do think that there is a place to buy here. I’m looking at the technicals.”
According to him, the best time to add this stock to your portfolio will be when the stock value falls as low as $92. Crocs, Inc.’s stock closed at $131.93 on Thursday.
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