BTIG Reiterates Buy Rating on Steven Madden Stock, Sets PT at $34

Steven Madden, Ltd. (NASDAQ:SHOO) is one of the 9 Best Footwear Stocks to Buy Now. On August 8, BTIG reiterated the Buy rating on Steven Madden, Ltd. (NASDAQ:SHOO) stock, with the price target set at $34.

Janine Stichter from BTIG reaffirmed its rating on SHOO following notable Q2 FY2025 results. Despite the ongoing tariff volatility, Stichter sees Steven Madden in a good position to navigate these challenges more effectively than its retail peers. The analyst expects the company to emerge from the current tariff situation sooner than most competitors and potentially in a stronger position.

Steven Madden demonstrated notable development in Q2, achieving 6.8% growth in consolidated revenue from a year ago, posting $559 million in total sales. The Kurt Geiger acquisition was one of the key drivers for this growth. The company’s D2C segment experienced a significant revenue increase of 43.3%. Steven Madden has also diversified its sourcing, minimizing reliance on China from 71% in 2024 to an estimated 30% for fall 2025.

As of August 25, BTIG’s price target of $34 indicates an upside of 18.72%, while Steven Madden, Ltd.’s (NASDAQ:SHOO) average price target of $27, based on analysts’ estimates, implies a downside of nearly 5.73% from current levels.

Steven Madden, Ltd. (NASDAQ:SHOO) designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel.

While we acknowledge the potential of SHOO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.