The analyst called the stock "dead money" for the foreseeable future, and investors seemed to agree in October. Now what: Crocs has been struggling to turn around its business, and the slashed guidance did little to reassure investors that the company's plan is working. Crocs expects to achieve a mid-term operating margin between 10% and 12%, roughly what the company managed between 2010 and 2012, but at the moment Crocs is far from achieving that goal. In 2014, Crocs lost money on an operating basis, and during the third quarter this year, the company posted a $20 million operating loss, far worse than its $1 million operating profit during the third quarter of 2014. The Piper Jaffray analyst cited concern that Crocs' long-term guidance was increasingly being pushed out. Eventually, Crocs expects to grow revenue by 8% annually, but with the company's performance during the third quarter, it's hard to imagine that Crocs will hit this target anytime soon.