Deckers Outdoor Corporation ( DECK ) shares are trading higher Friday after the company posted better-than-expected fourth-quarter financial results.

The Details:

Deckers Outdoor ( DECK ) reported quarterly earnings of $4.95 per share which beat the analyst consensus estimate of $2.90 by 70.69%. Quarterly sales also came in above estimates at $959.758 million. 

Investors appear to be so enamored with the company's quarterly earnings that they are overlooking the company's fiscal year outlook for earnings of between $29.50 and $30.00 per share, slightly below the $30.29 consensus estimate. 

Several analysts adjusted their price targets following the print: 

Evercore ISI Group maintained its Outperform rating and raised the price target from $960 to $1110.

UBS analyst Jay Sole maintained Deckers Outdoor ( DECK ) with a Buy and raised the price target from $1150 to $1265.

Barclays maintained Deckers Outdoor ( DECK ) with an Overweight and raised the price target from $1026 to $1089.

Wedbush analyst Tom Nikic maintained a rating of Outperform and raised the price target from $1000 to $1030.

Related News: Hoka, Ugg Parent Deckers Outdoor Reports Blockbuster Q4 Results, Stock Climbs

DECK Stock Prediction 2024:

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Deckers Outdoor ( DECK ) have an average 1-year price target of $1007.83, representing an expected downside of 1.68%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Deckers Outdoor ( DECK ), while 16 analysts have bullish ratings. The street high price target from UBS is $1265, while the street low from Stifel is $825.

DECK Price Action: According to Benzinga Pro, Deckers Outdoor ( DECK ) shares are up 13.4% at $1,025.99 at the time of publication Friday.

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