Louis Navellier’s 10 Stock Picks with Huge Upside Potential

2. Deckers Outdoor Corporation (NYSE:DECK)

Number of Hedge Fund Holders as of Q4: 66

Navellier & Associates’ Equity Stake: $6.05 Million

Upside Potential as of April 23: 77.3%

Deckers Outdoor Corporation (NYSE:DECK), headquartered in Goleta, California, is a renowned American designer and distributor of footwear, apparel, and accessories. Founded in 1973 by the University of California, Santa Barbara alumni Doug Otto and Karl F. Lopker, the company has grown into a global leader through its innovative brand portfolio, which includes iconic names such as UGG and HOKA. Over the years, Deckers has established a reputation for delivering performance-driven and fashion-forward products, catering to a wide customer base across various regions and demographics.

On January 30, 2025, Deckers Outdoor Corporation (NYSE:DECK) announced its financial results for the third fiscal quarter ended December 31, 2024, showcasing record-breaking performance across several key metrics. The company reported net sales of $1.827 billion, reflecting a 17.1% increase compared to $1.560 billion in the same quarter of the previous year. On a constant currency basis, this represented a 16.6% increase. Gross margin expanded to 60.3%, up from 58.7%, while operating income rose to $567.3 million from $487.9 million. Diluted earnings per share grew to $3.00, compared to $2.52 in the year-ago quarter.

President and CEO Stefano Caroti praised the quarter’s performance, attributing the success to the robust global demand for UGG’s iconic products and HOKA’s consistent delivery of high-performance innovations. He emphasized that the strategic scaling of the HOKA brand and UGG’s sustained consumer appeal have positioned Deckers Outdoor Corporation (NYSE:DECK) for continued growth. The company has increased its full-year revenue outlook, now expecting 15% growth, marking its fifth consecutive year of mid-teen or higher revenue expansion, while maintaining top-tier operating margins.

Deckers Outdoor Corporation (NYSE:DECK) has also garnered strong investor interest. It is currently one of Louis Navellier’s top stock picks with huge upside potential. During the December 2024 quarter, Navellier & Associates reported holdings of over $6 million in the company. Broader hedge fund sentiment mirrored this optimism; according to Insider Monkey’s database, 66 hedge funds held a combined stake of $1.33 billion in Deckers at the end of Q4, up from 61 hedge funds in the previous quarter. This increase in institutional investment underscores confidence in Deckers’ growth trajectory and financial performance.