Birkenstock (BIRK) Q3 Sales Beat Expectations, Maintaining Strong Mid-Cap Growth Potential

Birkenstock Holding plc (NYSE:BIRK) ranks among the best mid-cap stocks with huge upside potential. Following the company’s third-quarter results report that surpassed market expectations, Goldman Sachs maintained its Buy rating and $60 price target for Birkenstock Holding plc (NYSE:BIRK) on August 20.

For the quarter ended in June, the footwear manufacturer posted currency-adjusted sales growth of 16%, exceeding the 14% consensus projection. During the company’s largest quarter of the year, it displayed continuing brand momentum and market share growth.

Although production capacity restrictions cause demand to exceed supply, especially in Europe and the Asia-Pacific, Birkenstock Holding plc (NYSE:BIRK) continues to maintain pricing discipline with over 90% full-price realization. Throughout the quarter, the business-to-business segment, which accounts for 60% of sales, performed better than the direct-to-consumer channels.

Birkenstock Holding plc (NYSE:BIRK) is a holding company for the global footwear brand Birkenstock, which is well-known for its closed-toe shoes, sandals with anatomical footbeds, skincare products, and accessories.

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