Bullish case
$160 to $185
More likely if the Crocs brand sustains growth in the back half, HEYDUDE returns to growth, management deploys the expanded buyback, and the market re-rates CROX on adjusted earnings toward a 12x forward multiple.
Crocs, Inc. research snapshot
CROX AI stock analysis currently reads Crocs, Inc. as a two-brand casual footwear company (Crocs and HEYDUDE) with strong cash flow, a record second quarter, and raised full-year guidance. At the August 3, 2026 cutoff, the latest verified close was $128.01 on July 31, market capitalization was about $6.14 billion, and the stock was up roughly 50% year-to-date. Crocs reported Q2 2026 revenue of $1.18 billion, up 2.6%, with the Crocs brand passing $1 billion in a single quarter for the first time and adjusted EPS of $4.55, above consensus. Management raised 2026 revenue and EPS guidance and expanded the buyback authorization to about $2.0 billion. The main questions are whether the Crocs brand can keep growing, whether HEYDUDE can stabilize, and whether the current price already reflects the improved outlook. This is informational research and not investment advice.
Current price
$128.01
Market cap
$6.14 billion
AI score
70 / 100
Rating
Solid business with rising guidance, Buy analyst consensus, and manageable debt
Trend status
Up 25% over one year and up roughly 50% year-to-date, holding above the 50-day moving average after pulling back from the $140.42 52-week high
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | Crocs sells comfortable, iconic foam footwear with strong brand recognition across demographics and geographies. The business spans wholesale, direct-to-consumer, and retail, with the Crocs brand delivering its first ever $1 billion quarter in Q2 2026. Crocs brand generates gross margins near 60% and high free cash flow conversion, while HEYDUDE continues to dilute overall results. | High |
| Moat | The Crocs brand has pricing power, the patented Croslite material, strong consumer recognition, and a large installed base. Switching costs are low in absolute terms, but brand loyalty among Crocs enthusiasts is high. HEYDUDE has a weaker position in the competitive casual shoe market. | Medium-high |
| Management | CEO Andrew Rees has led Crocs since 2017 through brand revival and the HEYDUDE acquisition. In Q2 2026 the company raised full-year guidance, repaid $31 million of debt, repurchased about 2.3 million shares for $251 million, and expanded the buyback authorization by $1.5 billion to about $2.0 billion, signaling confidence in cash flow. | Medium-high |
| Financial trend | TTM revenue of about $4.05 billion. FY2025 GAAP results were distorted by HEYDUDE impairment charges, but Q2 2026 operating margin recovered to 24.2% and adjusted margin was 25.1%. TTM free cash flow was about $705 million and total borrowings fell to $1.31 billion at quarter end. | Medium-high |
| Valuation | At the cutoff price, the stock traded at about 11x trailing GAAP earnings and 8.8x forward adjusted earnings, with P/S of 1.51x, P/FCF of 8.71x, and EV/EBITDA of about 8.3x. The valuation is reasonable for a business with strong cash generation, but the stock is no longer at a deep discount after the recent rally. | Medium-high |
| Technical trend | CROX is in a longer-term uptrend, up about 50% year-to-date and 25% over one year, trading above the 50-day, 100-day, and 200-day moving averages. It pulled back about 9% from the $140.42 52-week high and now sits below the 20-day average near $131.67, with RSI near 48 in neutral territory. | Medium |
| Risk level | Key risks are HEYDUDE revenue still down 5.7% in Q2, fashion-cycle and consumer discretionary spending sensitivity, a soft Q3 guidance outlook, about $1.31 billion in borrowings, 10.3% short interest, and potential tariff-related costs. | Medium-high |
| AI confidence | Medium-high confidence for the business model, financial filings, market-cap math, guidance, analyst targets, and major risk categories. Lower confidence for precise HEYDUDE turnaround timing and how fast the company can deploy the expanded $2.0 billion buyback authorization. | Medium-high |
| Investment certainty | Medium certainty. Crocs has a strong brand, record results, raised guidance, and an aggressive buyback, but the recent stock rally, soft Q3 outlook, and fashion-cycle risk mean the forward return depends on execution and consumer demand. | Medium |
CROX AI stock forecast
The CROX AI stock forecast uses scenario ranges around the $128.01 cutoff price. It does not claim that AI can predict a specific future price. The bullish case requires the Crocs brand to keep growing, HEYDUDE to stabilize, and debt reduction and buybacks to continue. The base case assumes the company executes the raised 2026 guidance of revenue up 1% to 2% and adjusted EPS of $13.70 to $14.00. The bearish case assumes a consumer slowdown, weaker HEYDUDE, or renewed fashion-cycle risk.
$160 to $185
More likely if the Crocs brand sustains growth in the back half, HEYDUDE returns to growth, management deploys the expanded buyback, and the market re-rates CROX on adjusted earnings toward a 12x forward multiple.
$115 to $140
More likely if the company meets raised guidance with Crocs brand up 2% to 3% and HEYDUDE down 2% to 4%, and the stock trades around 9 to 10x forward adjusted earnings.
$85 to $105
More likely if consumer spending weakens, HEYDUDE needs further writedowns, the soft Q3 guidance turns into a broader slowdown, and the market values the stock at 6 to 7x reduced earnings.
CROX AI technical analysis
CROX AI technical analysis starts from the $128.01 July 31 close used for this August 3 static page. Barchart data showed the stock above the 50-day ($125.10), 100-day ($109.30), and 200-day ($97.50) moving averages but below the 20-day average near $131.67, with 14-day RSI around 48.2 and a pullback of about 9% from the $140.42 52-week high. Because this page does not fetch request-time market data, traders should confirm levels on a live chart before acting.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $128.01 | Latest verified close on July 31, 2026, used as the base for this August 3, 2026 data cutoff. |
| Near resistance | $131.67 to $135 | The 20-day moving average area followed by the recent breakdown zone. A reclaim of $135 would signal that the post-earnings pullback has ended. |
| 52-week high | $140.42 | The high reached before the Q2 earnings release. A close above it would open room toward the next historical levels. |
| Near support | $125 to $126 | The 50-day moving average area. A normal pullback could test this level within the broader uptrend. |
| Secondary support | $109 to $120 | The $120 area was the low of the recent post-earnings range, and the 100-day moving average sits near $109.30. A sustained break below $120 would weaken the near-term setup. |
| 200-day moving average | About $97.50 | The long-term trend anchor. A close below $100 would challenge the intermediate-term uptrend. |
| Momentum | RSI near 48.2, ADX near 23.9 | 14-day RSI near 48.2 is neutral. ADX near 23.9 with negative directional index higher than positive suggests the pullback is in control near term. |
| Volume | About 1.67 million shares on July 31 | Above the 20-day average of about 1.07 million, reflecting the post-earnings volatility and the resumed trading pause that day. |
| Volatility | ATR 14 near $5.89 (4.60%) | Volatility is elevated. Position sizing should allow for normal daily swings of about $6. |
| Invalidation | Close below $120, then $100 | A close below the recent post-earnings low near $120 would weaken the near-term bullish setup. A break below $100 would challenge the longer uptrend. |
CROX AI trading strategy
The CROX AI trading strategy is a rules-based framework, not personalized advice. It combines filing-backed business evidence, technical confirmation, position sizing, and clear invalidation levels.
Look for CROX to reclaim the 20-day moving average near $131.67 and then hold the $125 to $126 zone (50-day area) on any pullback before considering an entry. A close above $140.42 with above-average volume would confirm a continuation of the uptrend.
A failed reclaim of the 20-day average or a close back below $120 should reduce confidence in the setup.
If CROX pulls back toward the $115 to $125 range on no thesis-changing news, compare the entry price with the forward adjusted PE (near 9x at the cutoff) and the 2026 adjusted EPS guidance of $13.70 to $14.00 before considering a position.
Do not average down solely because the stock has fallen. Define maximum loss as a percentage of portfolio and review the HEYDUDE segment and consumer demand data first.
Track the next earnings report, Crocs brand revenue growth, HEYDUDE segment performance, buyback execution under the expanded $2.0 billion authorization, debt paydown, and any tariff or consumer spending news.
Lower the rating if HEYDUDE revenue keeps declining, the buyback is not executed, or management issues weaker forward guidance after the Q3 2026 outlook that already came in below consensus.
Investment research summary
Crocs turns a patented closed-cell resin foam (Croslite) into comfortable, durable, and iconically styled footwear sold globally through wholesale, e-commerce, and retail. The Crocs brand hit $1 billion in a single quarter for the first time in Q2 2026, while the HEYDUDE brand adds a casual lifestyle shoe line that is still working through a decline.
The Crocs brand benefits from strong consumer recognition, the patented Croslite material, broad demographic appeal, and a massive installed base. The brand has survived fashion cycles before. HEYDUDE has a less defensible position in the crowded casual footwear market.
The thesis can fail if the Crocs brand hits another fashion-cycle decline, HEYDUDE requires further impairment, consumer spending weakens in a recession, tariffs raise costs, or the company makes value-destructive capital allocation decisions despite the expanded buyback.
CEO Andrew Rees has been in charge since 2017 and led the brand revival and the HEYDUDE acquisition. In Q2 2026 management raised guidance, repaid debt, bought back shares, and increased the buyback authorization to about $2.0 billion, signaling confidence in cash flow, though HEYDUDE remains a work in progress.
The global footwear market is large and grows with population and income trends. Casual and comfort-oriented footwear has gained share in recent years. The industry is competitive, fashion-sensitive, and exposed to consumer discretionary spending cycles.
At roughly 8.8x forward adjusted earnings and 1.5x sales, the valuation is reasonable for a business with strong cash flow and raised guidance. The margin of safety is thinner than it was earlier in the year because the stock has already rallied about 50% year-to-date, and the outcome depends on HEYDUDE and consumer demand.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| CROX price | $128.01 close on July 31, 2026 | StockAnalysis real-time quote (CBOE/Nasdaq UTP data) | August 2, 2026 |
| Market capitalization | $6.14 billion, verified as $128.01 x 47.95M shares | financial_rigor.py market cap verification and StockAnalysis | August 2, 2026 |
| Q2 2026 revenue | $1.18 billion, up 2.6% year over year, above consensus of $1.15B | Crocs Q2 2026 earnings release and TheFly consensus note | August 2, 2026 |
| Q2 2026 adjusted EPS | $4.55, up 7.6% from $4.23, above consensus of $4.35 | Crocs Q2 2026 earnings release and TheFly consensus note | August 2, 2026 |
| FY2026 guidance | Revenue up 1% to 2%, adjusted EPS $13.70 to $14.00, both raised | Crocs Q2 2026 earnings release | August 2, 2026 |
| TTM revenue | $4.05 billion | StockAnalysis financials (Fiscal.ai data) | August 2, 2026 |
| TTM net income and EPS | $593.42 million net income, $11.57 EPS | StockAnalysis statistics (S&P Global data) | August 2, 2026 |
| Enterprise value and debt | EV about $7.66 billion, total debt about $1.69 billion, total borrowings $1.31 billion at quarter end | StockAnalysis statistics and Crocs Q2 2026 earnings release | August 2, 2026 |
| Free cash flow (TTM) | $704.62 million, FCF yield near 11.5% | StockAnalysis statistics (S&P Global data) | August 2, 2026 |
| Valuation math | 11.07x TTM GAAP PE, 8.83x forward PE, 1.51x P/S, 4.45x P/B, 8.71x P/FCF, 8.30x EV/EBITDA from financial_rigor.py and StockAnalysis | financial_rigor.py valuation verification and StockAnalysis | August 2, 2026 |
| Moving averages and momentum | 50-day MA about $125.10, 100-day MA about $109.30, 200-day MA about $97.50, 20-day MA about $131.67, RSI 48.23, ADX 23.95 | Barchart technical analysis snapshot | August 2, 2026 |
| Analyst consensus | Buy rating, average target $135.75, range $95 to $163 across 15 analysts | StockAnalysis forecast and analyst ratings (S&P Global and TipRanks) | August 2, 2026 |
This CROX AI stock analysis is an informational tool for research and education only. It is not investment advice, a recommendation, or a guarantee of future performance. Forecast ranges are scenarios based on available data as of August 3, 2026 and can be wrong.
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