Cricut (NASDAQ:CRCT – Get Free Report) released its earnings results on Tuesday. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.08, FiscalAI reports. The company had revenue of $188.62 million during the quarter, compared to analyst estimates of $172.02 million. Cricut had a net margin of 12.71% and a return on equity of 24.57%.
Cricut Price Performance
Shares of Cricut stock traded down $0.07 during trading on Tuesday, hitting $5.97. The stock had a trading volume of 659,877 shares, compared to its average volume of 609,975. Cricut has a 12 month low of $3.73 and a 12 month high of $6.82. The firm’s fifty day simple moving average is $6.06 and its 200-day simple moving average is $4.86. The stock has a market cap of $1.25 billion, a PE ratio of 13.88 and a beta of 0.25.
Insider Activity at Cricut
In related news, CEO Ashish Arora sold 60,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $5.48, for a total transaction of $328,800.00. Following the completion of the transaction, the chief executive officer owned 4,027,105 shares in the company, valued at $22,068,535.40. The trade was a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 670,000 shares of company stock worth $3,972,600 over the last quarter. Corporate insiders own 16.48% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on CRCT. Zacks Research cut shares of Cricut from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Weiss Ratings upgraded shares of Cricut from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Morgan Stanley reaffirmed an “underweight” rating and set a $3.70 target price on shares of Cricut in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group began coverage on shares of Cricut in a research note on Wednesday, August 19th. They set a “sell” rating and a $4.50 target price for the company. Two research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Cricut currently has an average rating of “Strong Sell” and an average price target of $4.07.
Read Our Latest Research Report on Cricut
About Cricut
Cricut, Inc develops and sells connected cutting machines and related products for do-it-yourself crafting, personalization and small-scale creative production. Its systems are designed to cut, draw, score and apply materials such as paper, vinyl, fabric, leather and iron-on transfers, enabling users to create customized home décor, apparel, gifts and other projects.
The company’s product portfolio includes Cricut smart cutting machines, heat presses, specialized tools and a broad range of consumable materials.
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