Cricut, Inc. (NASDAQ:CRCT) Receives $17.20 Consensus Price Target from Analysts

Cricut, Inc. (NASDAQ:CRCTGet Rating) has earned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $17.20.

Several equities research analysts have weighed in on CRCT shares. Robert W. Baird cut shares of Cricut from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $38.00 to $13.00 in a research report on Wednesday, March 9th. Barclays lowered their price objective on shares of Cricut from $20.00 to $7.00 and set an “underweight” rating for the company in a research report on Thursday, March 10th. Zacks Investment Research cut shares of Cricut from a “hold” rating to a “sell” rating in a research report on Thursday, March 10th. Finally, Morgan Stanley lowered their price objective on shares of Cricut from $20.00 to $9.00 and set an “underweight” rating for the company in a research report on Wednesday, March 9th.

In other Cricut news, major shareholder Abdiel Capital Management, Llc purchased 12,935 shares of the stock in a transaction dated Friday, February 4th. The stock was bought at an average price of $18.72 per share, for a total transaction of $242,143.20. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last quarter, insiders have bought 1,435,614 shares of company stock valued at $20,028,971.

A number of institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in Cricut by 75.8% during the 3rd quarter. Morgan Stanley now owns 3,446,501 shares of the company’s stock worth $95,055,000 after acquiring an additional 1,486,032 shares during the last quarter. Bowie Capital Management LLC boosted its stake in Cricut by 6.3% during the 3rd quarter. Bowie Capital Management LLC now owns 712,220 shares of the company’s stock worth $19,644,000 after acquiring an additional 42,220 shares during the last quarter. BlackRock Inc. boosted its stake in Cricut by 70.9% during the 4th quarter. BlackRock Inc. now owns 545,612 shares of the company’s stock worth $12,052,000 after acquiring an additional 226,371 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cricut by 65.3% during the 4th quarter. Geode Capital Management LLC now owns 324,922 shares of the company’s stock worth $7,177,000 after acquiring an additional 128,328 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new position in Cricut during the 4th quarter worth approximately $3,625,000. 16.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of CRCT stock opened at $11.62 on Friday. The company has a market cap of $2.58 billion and a P/E ratio of 18.16. Cricut has a 12-month low of $9.61 and a 12-month high of $47.36. The company’s 50-day moving average price is $13.31.

Cricut (NASDAQ:CRCTGet Rating) last posted its quarterly earnings data on Tuesday, March 8th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.14). The company had revenue of $387.80 million during the quarter, compared to analyst estimates of $407.51 million. Cricut had a net margin of 10.75% and a return on equity of 22.66%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS. Equities research analysts expect that Cricut will post 0.67 EPS for the current year.

About Cricut (Get Rating)

Cricut, Inc designs and markets a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates in three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.

See Also

Analyst Recommendations for Cricut (NASDAQ:CRCT)

Receive News & Ratings for Cricut Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cricut and related companies with MarketBeat.com's FREE daily email newsletter.