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Boot Barn Holdings (BOOT) has drawn investor attention after its recent share price move, with the stock closing at $164.13 on 15 August 2026. That shift comes alongside reported annual revenue and net income figures.

See our latest analysis for Boot Barn Holdings.

Over the past quarter, Boot Barn Holdings has shown building momentum, with a 90 day share price return of 15.96% and a 1 year total shareholder return that is slightly lower at 1.88%.

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After the latest move in Boot Barn Holdings, the share price sits well below the average analyst target yet above some intrinsic value estimates. So where does fair value really land in that spread?

Most Popular Narrative: 27.1% Undervalued

Compared with the last close of $164.13, the most followed narrative for Boot Barn Holdings points to a higher fair value anchored in long term earnings assumptions.

Robust store expansion into underpenetrated markets, particularly in population-growing regions, is driving higher-than-expected new store performance, strong customer acquisition, and increased sales productivity. This expansion provides an ongoing tailwind for revenue and positions Boot Barn to benefit from broader demographic shifts, supporting long-term top-line growth.

Read the complete narrative.

Want to see what sits behind that growth focus? The narrative leans on specific revenue, margin and valuation paths that stretch well beyond current guidance.

Result: Fair Value of $225.14 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, Boot Barn Holdings still faces key risks, including potential overexpansion of new stores and pressure on margins if cost inflation or pricing pushback intensifies.

Find out about the key risks to this Boot Barn Holdings narrative.

Another View On Boot Barn Holdings Using Earnings Multiples

The popular narrative pegs Boot Barn Holdings at a fair value of $225.14, which points to undervaluation. Yet on a simple P/E lens, the stock looks expensive. It trades around 20.5x earnings, compared with 19.9x for the US Specialty Retail industry, 15.6x for close peers, and a fair ratio of 16.8x. That gap suggests investors are already paying a premium, so consider how comfortable you are with that cushion if expectations change.