Shares of company that makes Hoka sneakers, Ugg boots surge past $1,000

Core Insights - Deckers Outdoor's shares surged 13% to surpass the $1,000 mark for the first time, driven by strong fourth-quarter results and the popularity of Ugg boots and Hoka sneakers among consumers [1] - The stock has increased approximately 35% this year, following a 67% rise in 2023, contrasting with Nike's 15% decline this year [1] Financial Performance - FY 2024 was highlighted as a significant year for Deckers, with Hoka's net sales increasing by 34% in the fourth quarter, contributing nearly 56% to the company's revenue, while UGG's sales rose by 14.9%, accounting for nearly 38% of total sales [3][6] - The strong sales performance led to at least 14 analysts raising their price targets for Deckers' stock [3] Market Position - Upstart brands like Deckers Outdoor are maintaining demand as wholesale retailers allocate shelf space to their innovative products, while established brands like Nike and Adidas are facing challenges [4] - Hoka and Ugg have emerged as two of the most in-demand brands in the footwear market, with positive remarks from analysts regarding their performance and market position [5][7] Analyst Sentiment - The average rating from 22 analysts on Deckers' stock is "buy," with a median price target of $1,039 [7] - Analysts recognize Deckers as one of the fundamentally strongest companies within their coverage, indicating confidence in its growth trajectory [7]