Care.com, Inc. (CRCM) Releases Earnings Results, Beats Expectations By $0.15 EPS
Care.com, Inc. (NYSE:CRCM) announced its quarterly earnings results on Thursday. The information services provider reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.15, Bloomberg Earnings reports. The company had revenue of $42 million for the quarter, compared to analysts’ expectations of $41.34 million. Care.com had a net margin of 0.67% and a return on equity of 3.79%. Care.com’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. Care.com updated its Q3 guidance to $0.07-0.08 EPS and its FY17 guidance to $0.37-0.40 EPS.
Shares of Care.com (CRCM) opened at 13.89 on Friday. The stock’s market capitalization is $408.42 million. The firm has a 50-day moving average of $14.87 and a 200 day moving average of $12.85. Care.com has a 1-year low of $7.51 and a 1-year high of $16.07.
Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Care.com from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Wednesday, July 19th. BidaskClub upgraded shares of Care.com from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Roth Capital set a $14.00 target price on shares of Care.com and gave the stock a “hold” rating in a research note on Thursday.
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In other Care.com news, CFO Michael Echenberg sold 6,547 shares of Care.com stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $14.38, for a total transaction of $94,145.86. Following the transaction, the chief financial officer now owns 22,438 shares of the company’s stock, valued at $322,658.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Diane Musi sold 9,990 shares of Care.com stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $15.48, for a total transaction of $154,645.20. Following the transaction, the general counsel now directly owns 34,450 shares in the company, valued at approximately $533,286. The disclosure for this sale can be found here. Insiders have sold 44,095 shares of company stock worth $651,424 in the last ninety days. Insiders own 24.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. TIAA CREF Investment Management LLC increased its position in shares of Care.com by 35.1% in the second quarter. TIAA CREF Investment Management LLC now owns 182,022 shares of the information services provider’s stock valued at $2,749,000 after buying an additional 47,272 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Care.com by 2.3% in the second quarter. Teachers Advisors LLC now owns 87,415 shares of the information services provider’s stock valued at $1,320,000 after buying an additional 1,929 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in shares of Care.com during the second quarter valued at $102,000. Alliancebernstein L.P. purchased a new position in shares of Care.com during the second quarter valued at $180,000. Finally, Wells Fargo & Company MN increased its position in shares of Care.com by 13.8% in the second quarter. Wells Fargo & Company MN now owns 11,711 shares of the information services provider’s stock valued at $176,000 after buying an additional 1,420 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.
Care.com Company Profile
Care.com, Inc is an online marketplace for finding and managing family care. As of December 31, 2016, the Company had 22.8 million members, including 12.9 million families and 9.9 million caregivers, spanning 19 countries. Its consumer matching solutions allow families to search for, qualify, vet, connect with and select caregivers.
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