Long Position on CROX @ $99.75 on 5/3/2021 (Fundamentals)

Crocs, Inc. (CROX), together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children.

It offers various footwear products, including sandals, wedges, flips, slides clogs, charms, and shoes under the Crocs brand name. The company sells its products in approximately 80 countries through wholesalers, retail stores, e-commerce sites, and third-party marketplaces.

As of December 31, 2020, it had 186 outlet stores, 100 retail stores, 65 store-in-stores, and 13 company-operated e-commerce sites.

The company serves in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Crocs, Inc. was founded in 1999 and is headquartered in Broomfield, Colorado.

Crocs reported 1st Quarter March 2021 earnings of $1.49 per share on revenue of $460.1 million. The consensus earnings estimate was $0.88 per share on revenue of $414.2 million. Revenue grew 63.6% on a year-over-year basis.

The company said it expects second quarter revenue of $530.4 million to $563.6 million. The current consensus revenue estimate is $456.27 million for the quarter ending June 30, 2021.

The company also said it expects 2021 revenue of $1.94 billion to $2.08 billion. The company's previous guidance was revenue of $1.66 billion to $1.73 billion and the current consensus revenue estimate is $1.73 billion for the year ending December 31, 2021.

Shares are up 138% since September 2020 and with international sales growing and several collaborations, such as recent ones with singer, Justin Bieber, this stock has shown strength throughout the pandemic. Following a strong earnings report, stock prices should be heading higher.

Entry Point: $99.75

Stop Loss: $94.75

Trading Range: $19.98 - $102.85

Target Price: $109.75

Updates

5/26/2021 2:49:19 PM

CROX closed at $107.60

Position closed on 5/26/2021 at price of $107.60 with a 7.87% gain in 23 days.

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