Analyst Confidence Rises for Steven Madden Shares

Shares of footwear and accessories company Steven Madden closed the trading week on a strong note, buoyed by a significant price target increase from investment bank BTIG. The stock advanced 1.83 percent on Friday to settle at $43.88. This positive sentiment stems from market experts identifying clearer growth catalysts for the upcoming fiscal period.

Despite the optimistic forward-looking analysis, recent financial results and institutional investor activity paint a more nuanced picture.

The firm's recently reported third-quarter results showed revenue of $667.9 million, representing a 6.9 percent year-over-year increase that nonetheless came in slightly below estimates. Earnings per share were $0.43, compared to a consensus expectation of $0.44.

Contrasting the current analyst outlook, Fisher Asset Management LLC substantially reduced its stake in Steven Madden during the second quarter of 2025. The fund sold 429,924 shares, decreasing its holding by approximately 56.9 percent to a new total of 326,000 shares.

Should investors sell immediately? Or is it worth buying Steven Madden?

BTIG Outlines a Bullish Case with Revised Target

The immediate catalyst for the upbeat market mood was a research note from BTIG analyst Janine Stichter. The firm reaffirmed its "Buy" rating on Steven Madden and raised its price objective from $43.00 to $50.00. This new target implies an upside potential of roughly 14 percent from current trading levels.

According to BTIG, the upgrade followed discussions with the company's management. Analysts believe Steven Madden is at an inflection point, supported by three key factors:
* Diminishing headwinds from wholesale inventory destocking and tariff-related uncertainties.
* An acceleration in organic revenue growth.
* An expected larger contribution from the Kurt Geiger brand starting in fiscal year 2026.

Market Consensus and Forthcoming Catalysts

The current analyst consensus rates Steven Madden shares as a "Moderate Buy." The average price target stands at approximately $44.00, aligning with the present share price. BTIG's move to $50 signals a belief that the market is undervaluing the company's earnings potential for 2026.

Investors are looking ahead to two specific dates: the stock will trade ex-dividend on December 15, 2025. A distribution of $0.21 per share is scheduled for December 26, 2025. Upcoming quarterly reports will indicate whether the anticipated momentum from the Kurt Geiger brand is materializing as forecast.