Crocs Stock Steps Up After Barclays Upgrade

Crocs Inc (NASDAQ:CROX) stock is up 5.1% to trade at $123.49 at last check, after Barclays upgraded the footwear name to "overweight" from "equal weight" and raised its price target to $133 from $113. The firm cited improving visibility into a broader recovery and a potential return to sustainable revenue growth, noting that Crocs International is already delivering top-line growth, while its North American business returned to growth in the second quarter.

The shares have struggled since being rejected at the $140 region in July and August, shedding 11% over the past three months, and the 60-day moving average is keeping a lid on today's gains. However, CROX is still up 45.7% in 2026. 

A short squeeze could help Crocs stock extend its rebound. Short interest accounts for 10.7% of the equity's available float, and it would take nearly five days to cover the 4.98 million shares sold short, at CROX's average pace of trading. Notably, short interest rose 6.5% during the most recent reporting period.

Options traders have also been more bearish than usual. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and Nasdaq OMX PHLX (PHLX), CROX's 50-day put/call volume ratio of 0.68 ranks in the 99th percentile of its annual range.