What's Been Going On With Crocs Stock?

Crocs, Inc. (NASDAQ: CROX) shares traded higher on Wednesday, continuing its post-earnings rally.

What To Know: Crocs stock flew higher on Monday following the company's positive fourth-quarter earnings report and full-year 2023 guidance.

Shares took a short breather on Tuesday before resuming the charge higher on Wednesday, gaining by almost 6%.

Before the jump in price, the stock had taken steep losses throughout the second half of December and into the beginning of January.

Major factors influencing the sell-off were losses for stocks in the footwear and athletic sector in sympathy with Nike (NYSE: NKE), which fell on mixed second-quarter results and lowered guidance, as well as rising Treasury yields.

However, as Crocs shares rally once again and yields fall, the stock is in striking distance of the high it made in December.

It is also worth noting that on Tuesday, Raymond James analyst Rick Patel maintained Crocs stock with a Strong Buy and raised the price target from $115 to $120.

CROX Price Action: Shares of Crocs were up 5.03% at $105.16 at the close of the market Wednesday, according to Benzinga Pro. 

Photo: Csaba Nagy from Pixabay