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DECK · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Deckers Outdoor Corporation (DECK) stock moving?
Deckers reported record fiscal Q2 2027 revenue of $1.48B, up 3.5%, with HOKA up 6.8% and UGG up 3.5%, and International up 9.0%. Gross margin widened to 60.5% from 56.2%, and diluted EPS rose 27% to $2.31, but that includes a $0.28 benefit from IEEPA tariff refunds, and DTC comparable sales fell 6.4%. Management raised FY2027 EPS guidance to $7.80-$7.95, which includes about $0.52 of one-time refund benefit, and repurchased $299M of stock in the quarter ($637M in the first half). The shares fell about 4.9% on heavy volume (9.3M) the day after results, then recovered from the $78-81 zone to a $89-91 range in early November, with volume spikes on Nov 4 and Nov 9. Analyst views are split: Argus keeps Buy with a lowered $102 target, while Cantor initiated at Neutral with an $89 target, roughly where the stock closed on Nov 10 ($89.79). Recent media picks (CNBC) add attention but little fundamental information. Upside depends on underlying growth outside one-time refunds, while weak DTC trends and a soft consumer backdrop are the main risks.
News behind the analysis
- Freeport-McMoRan, State Street, Deckers Outdoor And More On CNBC's 'Final Trades'CNBC's Final Trades segment selected DECK as a pick, alongside FCX, STT and RSP.
- Cantor Fitzgerald Initiates Coverage On Deckers Outdoor with Neutral Rating, Announces Price Target of $89Cantor Fitzgerald initiated coverage of DECK at Neutral with an $89 price target, close to the recent share price.
- Cantor Fitzgerald Initiates Deckers Outdoor at Neutral With $89 Price TargetSame Cantor Fitzgerald initiation: Neutral rating and $89 price target for Deckers Outdoor.
- CNBC Halftime Report Final Trades: Freeport-McMoRan, Deckers Outdoor, State Street, Invesco S&P 500 Equal Weight ETFDeckers Outdoor was named in the CNBC Halftime Report Final Trades segment, one of several stock picks.
- HOKA and Marni Announce Second Collaboration Featuring Clifton 11 SneakerHOKA is partnering with fashion house Marni on a redesigned Clifton 11 sneaker, the second collaboration between the two.
- Argus Research Maintains Buy on Deckers Outdoor, Lowers Price Target to $102Argus kept its Buy rating on DECK but cut its price target to $102.
- Deckers Outdoor Corporation Raises Fiscal 2027 EPS GuidanceFY2027 diluted EPS guidance was raised to $7.80-$7.95, citing international demand and tariff-related factors.
- Deckers Brands Reports Second Quarter Fiscal Year 2027 Financial ResultsRecord Q2 revenue of $1.48B (+3.5%), diluted EPS up 27% to $2.31 including a $0.28 IEEPA tariff refund benefit, gross margin 60.5% vs 56.2%, and $299M of buybacks.
About Deckers Outdoor Corp
Deckers Outdoor is a California-based footwear company that owns the HOKA running-shoe brand and the UGG sheepskin boot and lifestyle brand, plus smaller labels such as Teva. Most of its sales and growth now come from just two brands, HOKA and UGG. It sells through wholesale partners and its own stores and websites, and its fiscal year runs through March 31. In fiscal 2026 it had about $5.5 billion in sales.
How it makes money
It designs footwear and apparel, has contract factories make them, and sells them to retailers and distributors (wholesale) and straight to shoppers through its own websites and stores. UGG and HOKA each bring in very roughly 45% of revenue, and smaller brands like Teva make up the rest. Sales are seasonal: UGG makes the October–December quarter by far the biggest, at about $2 billion of the roughly $5.5 billion fiscal 2026 total.
What usually moves DECK
- HOKA growth rate and running-shoe competition
- UGG demand and holiday-season sales
- Consumer spending and retailer inventory levels
- Tariffs and Asian manufacturing costs
- Quarterly guidance versus expectations