Deckers Outdoor (DECK) shares dropped significantly in pre-market trading after receiving downgrades from both Piper Sandler and Baird, citing concerns over slowing demand and the flattening athletic cycle for its key brand, Hoka.
- The stock fell 6.12% to $100.88 in pre-market trading following the analyst actions.
- Piper Sandler was particularly bearish, cutting its rating to Underweight and lowering the price target from $100 to $85.
- Analysts noted that the upside is fading following a rapid 35% rebound since November, suggesting a rotation away from the stock.