#6 - Birkenstock (NYSE:BIRK)
Birkenstock Holding plc (NYSE: BIRK) was a much-anticipated initial public offering (IPO) in October 2023. Just over one year since its public debut, BIRK stock is up about 14% despite a 20% drop in the three months ending November 11, 2024.
The reason is earnings, which came in a little lighter in the company’s most recent quarter. That’s spooking investors who are concerned that the company known for its iconic luxury sandals may be facing a weary consumer.
But Birkenstock’s business model is one that delights in leaving retailers wanting more. The Wall Street Journal wrote that the brand “typically ships retailers about 75% of what they would like to order.” That’s creating a scarcity that increases the urgency to buy.
Analysts clearly see the stock’s dip as a buying opportunity. The stock maintains a Moderate Buy rating with a $66.40 price target, representing a 42% increase in the stock price.
About Birkenstock
Birkenstock Holding plc manufactures and sells footwear products. It also offers sandals, shoes, closed-toe silhouettes, skincare products, and accessories. The company sells its products through e-commerce sites and a network of owned retail stores, as well as business-to-business channels. It operates in the United States, Brazil, Canada, Mexico, Europe, APMA, and internationally.
Read More - Current Price
- $45.58
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 13 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $66.40 (45.7% Upside)
