Crocs (CROX) remains a "low growth" stock despite Q4 earnings that were "moderately better than expected," UBS Securities said Wednesday in a report.
Last week, Crocs posted Q4 adjusted earnings of $2.52 per diluted share on revenue of $989.8 million. Analysts polled by FactSet expected EPS of $2.26 on sales of $961.6 million.
The Q4 results weren't a "thesis changer," and 2025 guidance implies a slowdown in the brand's North American growth rate, UBS said.
UBS forecast a 1% EPS compound annual growth rate for five years and doesn't see a catalyst to drive the stock's price-to-earnings ratio higher.
The company "would need its Crocs brand to show accelerating sales growth in North America, but we doubt this happens" in the next 12 months, the report said.
UBS raised its price target on Crocs stock to $132 from $122 and kept its neutral rating.
Shares of Crocs rose 1.9% in recent Wednesday trading.
Price: 109.34, Change: +1.99, Percent Change: +1.85
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