Cricut (NASDAQ:CRCT – Get Rating) had its price target reduced by equities research analysts at Barclays from $7.00 to $6.00 in a research note issued on Thursday, The Fly reports. Barclays‘s price objective points to a potential downside of 26.11% from the stock’s current price.
Separately, Citigroup boosted their price target on shares of Cricut from $8.68 to $9.50 and gave the company a “neutral” rating in a research note on Wednesday, March 8th.
Cricut Price Performance
NASDAQ:CRCT opened at $8.12 on Thursday. The firm has a market capitalization of $1.78 billion and a price-to-earnings ratio of 38.67. The company’s 50-day moving average is $9.57 and its two-hundred day moving average is $9.42. Cricut has a 1-year low of $5.88 and a 1-year high of $12.20.
Institutional Investors Weigh In On Cricut
Several large investors have recently added to or reduced their stakes in CRCT. Morgan Stanley lifted its stake in Cricut by 27.3% during the fourth quarter. Morgan Stanley now owns 2,912,115 shares of the company’s stock valued at $26,995,000 after purchasing an additional 625,151 shares during the last quarter. Abdiel Capital Advisors LP increased its position in shares of Cricut by 2.3% during the 4th quarter. Abdiel Capital Advisors LP now owns 14,886,303 shares of the company’s stock worth $137,996,000 after purchasing an additional 337,869 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Cricut by 1,896.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 312,041 shares of the company’s stock valued at $1,916,000 after acquiring an additional 296,410 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Cricut by 8.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,469,975 shares of the company’s stock worth $22,872,000 after buying an additional 190,428 shares during the period. Finally, Millennium Management LLC lifted its stake in Cricut by 129.4% in the second quarter. Millennium Management LLC now owns 158,777 shares of the company’s stock valued at $975,000 after buying an additional 89,554 shares in the last quarter. 9.76% of the stock is owned by hedge funds and other institutional investors.
Cricut Company Profile
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.
- Get a free copy of the StockNews.com research report on Cricut (CRCT)
- An Updraft Is Brewing For DraftKings
- PepsiCo Hits “Sweet Spot” For APAC Growth, Macros Agree
- High-Risk Mullen Automotive Continues To Build Momentum
- 3 Recession-Proof Stocks With Nice Dividends
- Oracle Stock Climbs For Third Month, Still In Buy Range
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.