Key Takeaways Soaring demand for Hoka brand shoes helped Deckers Outdoor post better-than-expected earnings and revenue for the second quarter, sending its stock higher Friday.Hoka sales gained nearly 35% year-over-year,

The popularity of its UGG boots and HOKA running shoes energized Deckers Outdoor (NYSE:DECK) and sent shares higher by double-digits on Friday in the wake of upbeat Q3 results. The rally spilled over into shares of On Holdings (ONON),

Shares of Deckers Outdoor climbed Friday after the company raised its outlook for the year on the strength of its Hoka brand and several banks including Wells Fargo and UBS raised their target prices.