Deckers Outdoor

DECK · NYSE

$87.37+$0.13 (+0.15%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $87.24

DECK analyst rating

HoldConsensus of 21 analysts over the last 12 months. 52% rate it a buy.

Strong buy0
Buy11
Hold7
Underperform2
Sell1

12-month price target · 24 analysts

Average $122.58 (+40.3% upside)

Low: $70.70
Now: $87.37
High: $193.20

Upgrades and downgrades

The latest rating actions, newest first

DECK analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Raymond James	Oct 16, 2026	Maintains	Outperform	$120.00 → $105.00	59%
Telsey Advisory Group	Oct 15, 2026	Maintains	Market Perform	$105.00	47%
BMO Capital	Sep 9, 2026	Initiates	Underperform	$70.00	74%
Telsey Advisory Group	Jul 24, 2026	Maintains	Market Perform	$113.00 → $105.00	47%
Truist Securities	Jul 24, 2026	Maintains	Buy	$125.00 → $105.00	21%
Stifel	Jul 24, 2026	Maintains	Buy	$144.00 → $133.00	30%
Barclays	Jul 24, 2026	Maintains	Overweight	$141.00 → $133.00	55%
Needham	Jul 24, 2026	Maintains	Buy	$138.00 → $125.00	46%
Baird	Jul 24, 2026	Maintains	Neutral	$125.00 → $115.00	49%
Jefferies	Jul 13, 2026	Upgrade	Hold → Buy	$110.00 → $130.00	89%

The case for and against

Updated Oct 14, 2026

Bull case

Deckers Outdoor is supported by a high-quality, two-brand growth engine, with UGG and Hoka accounting for 50% and 47% of fiscal 2026 sales, respectively, and both showing balanced growth across DTC and wholesale. Hoka’s 8% growth and UGG’s 5% growth, along with strong new-product momentum, rising brand awareness, and management’s reiterated FY outlook, suggest durable demand rather than a temporary spike. Profitability also looks resilient, as gross margin rose 60 bps year over year despite tariffs, inventories fell 5%, and the company’s fortress balance sheet and buyback capacity provide additional downside protection.

Bear case

Deckers Outdoor is facing a deteriorating fundamental setup as difficult compares and a tough macro environment could leave UGG growth flat and slow Hoka to single-digit growth, despite those two brands already driving nearly all sales. Tariffs, normalized discounting, and higher costs from new stores, marketing, technology, rent, FX remeasurement, and product timing issues could compress margins into the high-teens and sharply slow EPS growth. With fiscal 2026 sales still 58% U.S.-based and dependence on wholesale, e-commerce, and just three brands, the business looks exposed to fashion shifts, inventory mismatches, and weather-sensitive demand.

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