Evercore ISI has raised its price objective for Deckers Outdoor Corp. (DECK) to $108.00 from $90.00, while maintaining an "In Line" rating on the stock. The revised target remains below the consensus analyst average of $116.00 and sits within a reported analyst target range of $81 to $157.
Data show the stock is trading at a price-to-earnings ratio of 14.8, a valuation the note characterizes as attractive relative to the companys growth prospects.
Evercore attributed the increase in its target to what it described as a "strong quarter in total" for Deckers, highlighting robust performances from both the Ugg and Hoka brands. Over the last twelve months Deckers has recorded 12.6% revenue growth, reaching $5.24 billion, a figure the firm referenced in support of its more constructive near-term view.
While Evercore said it had expected "some Uggs upside," the firm pointed to Hoka as a larger positive surprise. Hoka, according to the note, showed stronger-than-expected growth and improved profitability even as discounting was visible in retail channels. The analyst team also flagged Deckers strong liquidity position, noting a current ratio of 3.07 as evidence the company has ample short-term resources to support its expanding brand investments.
Deckers provided what Evercore described as "unexpected early commentary" on fiscal year 2027, including managements projections for continued growth in the Ugg brand and what the company framed as a "more durable Hoka wholesale door growth opportunity." Evercore suggested these forward-looking remarks should help blunt the near-term force of the structural bear case centered on Hoka, saying there is "little room for bears to poke holes with enough conviction" given the quarters results and the guidance commentary.
Separately, Deckers reported third-quarter fiscal 2026 results that exceeded expectations. The company posted adjusted earnings per share of $3.33 against a consensus forecast of $2.76, a 20.65% earnings surprise. Revenue for the quarter came in at $1.96 billion, ahead of an anticipated $1.87 billion. Those results prompted a positive reaction from investors and prompted some analysts to revise their outlooks for the company.
Taken together, the stronger-than-expected quarterly performance, the companys reported revenue growth and the pronounced liquidity buffer underpin Evercores decision to raise the price target even as the firm retains a measured rating.
Context note: The figures and commentary above reflect the information presented in the most recent analyst update and the companys Q3 2026 reported results.