InvestingPro analysis confirms this oversold status, with current EV/EBITDA at 14.7x and impressive gross profit margins of 59%. Piper Sandler highlighted Birkenstock's significant own store expansion opportunity, particularly in the Americas market where the company currently operates just 10 stores but sees the highest sales productivity. The firm projects that Birkenstock's store sales could more than double to approximately 21% of total revenue (from high single digits today) if the company achieves a more balanced direct-to-consumer and business-to-business sales mix approaching 50/50 over time. Piper Sandler slightly reduced its fiscal third-quarter 2025 sales forecast due to foreign exchange impacts, while noting that Birkenstock's July 1st price increase in the low single-digit range across its product portfolio appears manageable.