Cricut, Inc. (NASDAQ:CRCT) Stock Has Consensus Price Target of $4.07 According to Analysts

Shares of Cricut, Inc. (NASDAQ:CRCT) have been assigned a consensus recommendation of “Strong Sell” from the six ratings firms that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $4.07.

CRCT has been the subject of several research analyst reports. Weiss Ratings raised Cricut from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Zacks Research cut shares of Cricut from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. The Goldman Sachs Group initiated coverage on shares of Cricut in a report on Wednesday, August 19th. They issued a “sell” rating and a $4.50 target price on the stock. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $3.70 price target on shares of Cricut in a research report on Wednesday, August 5th.

Cricut Stock Performance

Cricut stock opened at $6.33 on Monday. Cricut has a fifty-two week low of $3.73 and a fifty-two week high of $6.82. The company has a market capitalization of $1.33 billion, a P/E ratio of 14.72 and a beta of 0.25. The stock has a 50-day simple moving average of $5.96 and a 200-day simple moving average of $4.99.

Cricut (NASDAQ:CRCT) last announced its earnings results on Tuesday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.13. The firm had revenue of $156.28 million during the quarter, compared to analysts’ expectations of $159.95 million. Cricut had a return on equity of 24.57% and a net margin of 12.71%. As a group, analysts forecast that Cricut will post 0.32 earnings per share for the current year.

Insider Transactions at Cricut

In other Cricut news, CEO Ashish Arora sold 60,000 shares of Cricut stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $5.48, for a total value of $328,800.00. Following the transaction, the chief executive officer directly owned 4,027,105 shares in the company, valued at approximately $22,068,535.40. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 610,000 shares of company stock worth $3,504,600. Company insiders own 16.48% of the company’s stock.

Institutional Investors Weigh In On Cricut

Institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its stake in shares of Cricut by 57,811.1% during the fourth 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 period. Royal Bank of Canada grew its holdings in shares of Cricut by 265.0% during the first quarter. Royal Bank of Canada now owns 8,165 shares of the company’s stock worth $30,000 after buying an additional 5,928 shares during the last quarter. AXQ Capital LP acquired a new position in Cricut in the 2nd quarter valued at about $74,000. Diversified Trust Co acquired a new position in Cricut in the 1st quarter valued at about $67,000. Finally, Walleye Capital LLC acquired a new position in Cricut in the 1st quarter valued at about $100,000. 19.60% of the stock is owned by hedge funds and other institutional investors.

Cricut Company Profile

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.