Cricut (CRCT) to Release Earnings on Tuesday

Cricut (NASDAQ:CRCT) will announce its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.07 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Cricut (NASDAQ:CRCT) last announced its earnings results on Tuesday, March 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Cricut had a return on equity of 9.59% and a net margin of 7.01%. The business had revenue of $231.25 million for the quarter, compared to the consensus estimate of $252.67 million. During the same quarter in the previous year, the company posted $0.05 EPS. Cricut’s revenue for the quarter was down 17.6% on a year-over-year basis. On average, analysts expect Cricut to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Cricut Stock Up 2.5 %

Cricut stock opened at $5.71 on Monday. The stock has a 50-day simple moving average of $5.02 and a 200 day simple moving average of $6.08. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 23.79 and a beta of 0.03. Cricut has a 12-month low of $4.43 and a 12-month high of $17.89.

Insider Buying and Selling

In other Cricut news, major shareholder Abdiel Capital Management, Llc sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $4.83, for a total value of $4,830,000.00. Following the transaction, the insider now directly owns 5,273,978 shares of the company’s stock, valued at $25,473,313.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 18.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays dropped their target price on shares of Cricut from $6.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, March 7th. Citigroup reduced their price objective on Cricut from $8.50 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Finally, The Goldman Sachs Group lowered their target price on Cricut from $7.00 to $5.75 and set a “neutral” rating for the company in a research note on Wednesday, March 6th.

About Cricut

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through 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.