Why Deckers Outdoor Stock Is Up

Author: Erica Kollmann | March 04, 2024 02:53pm

Deckers Outdoor Corporation  (NYSE:DECK) shares are trading higher Monday after it was announced the company will join the S&P 500. 

The Details:

Late Friday, it was announced that Deckers Outdoor and Super Micro Computer, Inc. (NASDAQ:SMCI)  will join the S&P 500 in the index’s quarterly rebalance, replacing Whirlpool Corp. (NYSE:WHR) and Zions Bancorp (NASDAQ:ZION) in the benchmark

Deckers Outdoor is the parent company of the Ugg brand among others and shares have climbed more than 37% year to date following gains of nearly 70% in 2023. 

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Will DECK Stock Go Up?

When trying to assess whether or not Deckers Outdoor (NYSE:DECK) will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $853.72 on Deckers Outdoor. The Street high target is currently at $1150 and the Street low target is $625. Of all the analysts covering Deckers Outdoor, 12 have positive ratings, 6 have neutral ratings and no one has negative ratings.

In the last month, 2 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Deckers Outdoor have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. The average analyst price target suggests the stock could have further downside ahead.

For a broad overview of everything you need to know about Deckers Outdoor, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

DECK Price Action: According to Benzinga Pro, Deckers Outdoor shares are up 1.85% at $919.99 at the time of publication.

Image: Generated using AI via Midjourney

Posted In: DECK SMCI WHR ZION