Cimpress (NASDAQ:CMPR) Shares Gap Up Following Analyst Upgrade

Shares of Cimpress plc (NASDAQ:CMPR) gapped up prior to trading on Wednesday after Truist Financial raised their price target on the stock from $60.00 to $74.00. The stock had previously closed at $49.72, but opened at $53.65. Truist Financial currently has a buy rating on the stock. Cimpress shares last traded at $57.82, with a volume of 194,771 shares traded.

CMPR has been the topic of a number of other reports. Wall Street Zen downgraded shares of Cimpress from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th. Barrington Research restated an “outperform” rating and issued a $65.00 target price on shares of Cimpress in a research note on Tuesday.

Hedge Funds Weigh In On Cimpress

Hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its stake in shares of Cimpress by 341.6% during the first quarter. Signaturefd LLC now owns 605 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 468 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Cimpress during the first quarter valued at approximately $32,000. Headlands Technologies LLC bought a new position in shares of Cimpress during the first quarter valued at approximately $34,000. Ethic Inc. bought a new position in shares of Cimpress during the fourth quarter valued at approximately $214,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Cimpress during the fourth quarter valued at approximately $228,000. 77.64% of the stock is currently owned by institutional investors.

Cimpress Stock Up 12.1%

The stock’s 50 day moving average price is $45.99 and its 200-day moving average price is $48.63. The stock has a market capitalization of $1.39 billion, a P/E ratio of 109.30 and a beta of 1.77.

Cimpress (NASDAQ:CMPR) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($1.99). Cimpress had a net margin of 0.44% and a negative return on equity of 2.67%. The business had revenue of $869.48 million for the quarter, compared to the consensus estimate of $844.24 million. Analysts anticipate that Cimpress plc will post 3.69 earnings per share for the current year.

About Cimpress

Cimpress plc provides various mass customization of printing and related products in North America, Europe, and internationally. The company operates through five segments: Vista, PrintBrothers, The Print Group, National Pen, and All Other Businesses. It offers printed and digital marketing products; internet-based canvas-print wall décor, business signage, and other printed products; business cards; and marketing materials, such as flyers and postcards, digital and marketing services, writing instruments, decorated apparel, promotional products and gifts, packaging, design services, textiles, and magazines and catalogs.