Poshmark, Inc. (NASDAQ:POSH – Get Rating) has been given a consensus recommendation of “Hold” by the fourteen brokerages that are presently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $18.82.
A number of research analysts recently issued reports on POSH shares. Cowen dropped their target price on shares of Poshmark to $22.00 and set a “na” rating on the stock in a research report on Monday, May 16th. Wedbush lowered their price objective on shares of Poshmark from $23.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, March 23rd. Guggenheim lowered their price objective on shares of Poshmark from $22.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, March 23rd. Zacks Investment Research upgraded shares of Poshmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 14th. Finally, Jefferies Financial Group assumed coverage on shares of Poshmark in a research note on Thursday, March 17th. They issued a “hold” rating and a $14.00 target price for the company.
In other news, major shareholder Holdings (Private) Ltd Temasek sold 2,000,000 shares of the stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $10.65, for a total value of $21,300,000.00. Following the sale, the insider now directly owns 3,971,646 shares of the company’s stock, valued at $42,298,029.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Hans Tung sold 110,576 shares of the stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $13.18, for a total transaction of $1,457,391.68. The disclosure for this sale can be found here. Insiders have sold 2,300,266 shares of company stock valued at $25,362,366 in the last quarter.
POSH opened at $11.55 on Friday. Poshmark has a 1 year low of $8.97 and a 1 year high of $52.39. The business has a fifty day simple moving average of $12.04 and a 200 day simple moving average of $14.78. The company has a market capitalization of $897.28 million, a PE ratio of -23.10 and a beta of 0.23.
Poshmark (NASDAQ:POSH – Get Rating) last released its earnings results on Thursday, May 12th. The clothing resale marketplace reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.08. Poshmark had a negative net margin of 11.59% and a negative return on equity of 9.37%. The company had revenue of $90.90 million for the quarter, compared to the consensus estimate of $87.66 million. During the same quarter in the previous year, the company earned ($0.33) EPS. Poshmark’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, sell-side analysts predict that Poshmark will post -0.97 EPS for the current year.
About Poshmark (Get Rating)
Poshmark, Inc operates as a social marketplace for new and secondhand style products in the United States, Canada, India, and Australia. The company offers apparel, footwear, home, beauty, and pet products, as well as accessories. As of December 31, 2021, it had 7.6 million active buyers. The company was formerly known as GoshPosh, Inc and changed its name to Poshmark, Inc in 2011.
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