In a report released yesterday, Adrienne Yih from Barclays assigned a Sell rating to Cricut Inc (CRCT – Research Report), with a price target of $6.00. The company’s shares closed yesterday at $10.74.
According to TipRanks, Yih is a 4-star analyst with an average return of 5.1% and a 49.25% success rate. Yih covers the Consumer Cyclical sector, focusing on stocks such as Nike, Ulta Beauty, and VF.
Currently, the analyst consensus on Cricut Inc is a Moderate Sell with an average price target of $5.50.
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Based on Cricut Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $87.66 million and a net profit of $16.02 million. In comparison, last year the company earned a revenue of $183.76 million and had a net profit of $13.83 million
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRCT in relation to earlier this year.
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Cricut Inc designs and builds a creativity platform that enables users to turn ideas into professional-looking handmade goods. With its connected machines, design apps and accessories, and materials, the users create everything from personalized birthday cards, mugs, and T-shirts to large-scale interior decorations. It derives revenues from three segments including Connected machines, Subscriptions, and Accessories and materials. It derives maximum revenue from the Accessories and Materials segment through the sales of Cricut EasyPress, hand tools, machine replacement tools and blades, project materials such as vinyl and iron-on, and sales of a la carte digital content purchases, including fonts, images, and projects.
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