Cricut (NASDAQ:CRCT) PT Raised to $9.50

Cricut (NASDAQ:CRCT – Get Rating) had its price objective boosted by equities researchers at Citigroup from $8.68 to $9.50 in a research report issued on Wednesday, The Fly reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 3.26% from the stock’s current price.

Cricut Stock Down 0.1 %

Shares of NASDAQ CRCT opened at $9.20 on Wednesday. The stock has a market capitalization of $2.03 billion, a PE ratio of 32.86 and a beta of 0.03. The firm has a fifty day moving average of $9.60 and a 200-day moving average of $9.05. Cricut has a 52-week low of $5.88 and a 52-week high of $14.37.

Cricut (NASDAQ:CRCT – Get Rating) last announced its quarterly earnings data on Tuesday, March 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The business had revenue of $280.76 million for the quarter, compared to the consensus estimate of $261.00 million. Cricut had a net margin of 6.84% and a return on equity of 8.36%. Cricut’s quarterly revenue was down 27.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 EPS. Equities research analysts expect that Cricut will post 0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Cricut

Institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Cricut in the third quarter valued at $79,000. Abdiel Capital Advisors LP increased its position in Cricut by 2.3% during the 4th quarter. Abdiel Capital Advisors LP now owns 14,886,303 shares of the company’s stock valued at $137,996,000 after purchasing an additional 337,869 shares during the period. HRT Financial LP acquired a new stake in Cricut during the 4th quarter valued at approximately $215,000. Swiss National Bank increased its position in Cricut by 3.4% during the 4th quarter. Swiss National Bank now owns 64,000 shares of the company’s stock valued at $593,000 after purchasing an additional 2,100 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in Cricut by 5.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 172,166 shares of the company’s stock valued at $1,595,000 after purchasing an additional 8,151 shares during the period. Institutional investors and hedge funds own 9.76% of the company’s stock.

About Cricut

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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.