This week, shares of the outdoor lifestyle brand Yeti experienced a 7% increase, as reported by S&P Global Market Intelligence, up until 1 p.m. Eastern Time on Thursday.
The primary reason for this rise is due to an analyst from Citigroup increasing their projected price for the company from $36 to $44, suggesting a potential increase of approximately 16%.
It seems that the company’s stock price is increasing as well, possibly because of a surprising application of one of Yeti’s products that has emerged unexpectedly.
Yeti: One red flag and three green flags
Initially, let me share some less-than-ideal news. According to Citi’s analysis, it appears that Yeti’s website traffic decreased during the second quarter when compared to their peers specializing in drinkware.
Despite Citi’s findings indicating that overall web traffic to Yeti’s site is still increasing, the company, aiming to extend its reach beyond its current 59% drinkware-dependent sales, finds the uptick in traffic to its new product categories encouraging.
A significant factor driving excessive web traffic towards Yeti is their Camino 35 Carryall Tote. Primarily designed for hiking, fishing, camping, and beach trips, this tote became popular on TikTok when it was reimagined as a versatile “mom bag.
A Jefferies analyst pointed out that online searches for the tote have multiplied by 12 times during the past month. When I discussed Yeti in April, I mentioned that expanding into new product categories would be crucial for the company, and this latest trend could potentially mark the beginning of such an expansion.
Beyond these positive headlines, experts anticipate additional benefits in Yeti’s forthcoming financial report, given a somewhat calmer tariff scenario now. Earlier estimations suggested that Yeti’s cost of goods might increase by $100 million due to new tariffs, but the U.S.-China agreement could potentially lower this potential impact.
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2025-07-24 21:24