Cricut, Inc. (NASDAQ:CRCT) Receives $3.60 Consensus Target Price from Brokerages

Shares of Cricut, Inc. (NASDAQ:CRCT) have earned a consensus rating of “Strong Sell” from the five research firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $3.6667.

Several analysts have commented on the stock. Weiss Ratings upgraded shares of Cricut from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Barclays restated an “underweight” rating and set a $4.00 target price on shares of Cricut in a research report on Wednesday. Wall Street Zen downgraded Cricut from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. The Goldman Sachs Group decreased their price objective on Cricut from $3.50 to $3.00 and set a “sell” rating for the company in a report on Wednesday, January 14th. Finally, UBS Group reaffirmed a “cautious” rating on shares of Cricut in a report on Wednesday.

Cricut Price Performance

Shares of CRCT opened at $4.05 on Wednesday. The company’s fifty day moving average price is $4.56 and its 200-day moving average price is $5.15. Cricut has a 1-year low of $3.94 and a 1-year high of $7.33. The firm has a market capitalization of $857.55 million, a PE ratio of 11.25 and a beta of 0.17.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Cricut had a return on equity of 20.44% and a net margin of 10.82%.The company had revenue of $203.60 million during the quarter, compared to analysts’ expectations of $202.22 million. As a group, research analysts anticipate that Cricut will post 0.28 EPS for the current fiscal year.

Insider Activity at Cricut

In related news, CEO Arora Ashish sold 13,458 shares of Cricut stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $4.25, for a total value of $57,196.50. Following the completion of the transaction, the chief executive officer owned 3,724,995 shares in the company, valued at $15,831,228.75. The trade was a 0.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 318,917 shares of company stock worth $1,485,894. 18.61% of the stock is owned by company insiders.

Institutional Trading of Cricut

Institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. raised its stake in shares of Cricut by 255.9% during the 2nd quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock worth $25,000 after buying an additional 2,620 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Cricut by 57,811.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company’s stock worth $26,000 after buying an additional 5,203 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in Cricut in the 4th quarter worth about $55,000. Orion Porfolio Solutions LLC purchased a new stake in Cricut during the 4th quarter worth approximately $63,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Cricut during the 3rd quarter worth approximately $68,000. 19.60% of the stock is currently owned by hedge funds and other institutional investors.

About Cricut

Cricut, Inc (NASDAQ: CRCT) is a U.S.-based technology company specializing in personal and small-business crafting solutions. The company designs and markets a family of cutting machines that leverage computer-aided design to precisely cut a wide range of materials, including paper, vinyl, fabric and leather. Complementing its hardware offerings, Cricut provides proprietary software and mobile applications that enable users to create custom artwork, import graphics and access a vast library of pre-designed projects and fonts through a subscription service.

Founded as a division of Provo Craft & Novelty in 2005, Cricut emerged as an independent public company in March 2021.