CROX Stock Steps Up After Earnings Win

The firm expects second-quarter revenue to come in higher than anticipated, too

Digital Content Manager
May 7, 2019 at 9:33 AM
facebook X logo linkedin


The shares of Crocs Inc (NASDAQ:CROX) are popping in early trading, after the firm posted first-quarter earnings of 33 cents per share on $295.9 million in revenue -- both topping analysts' estimates. CROX cited strong e-commerce and wholesale revenue, and said its same-store sales were up 8.7% for the first part of the year. The shoe maker expects second-quarter revenue to arrive above expectations. Crocs stock is up 9% at $30.74 at last check. 

CROX stock has enjoyed a successful rebound off its early March lows, with recent support atop its 20-day and 120-day moving averages. Plus, today's surge has the equity back atop $29 --- home to its pre-bear gap levels from February, and an area the stock briefly touched last Friday before pulling back ahead of earnings. The equity is now up roughly 93% since this time last year. 

There's plenty of room for analyst upgrades, too, with only two "strong buy" ratings on the table, compared to three tepid "holds." Plus, the consensus 12-month target price is only a chip-shot away from current levels at $31.33. 

Short sellers could be fretting over Crocs' good day, with short interest up 2.4% in the last reporting period. The 4.88 million shares sold short represents a healthy 9% of the stock's available float. At CROX's average pace of trading, it would take almost a week to cover all these pessimistic positions, leaving the door wide open for a short squeeze.

Options traders, on the other hand, have leaned toward optimism. The security sports a 50-day call/put volume ratio of 3.05 on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio sits in the 99th annual percentile, hinting at an unusually healthy appetite for bullish bets of late. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI