Poshmark, Inc. (NASDAQ:POSH – Get Rating) rose 1.6% on Friday . The company traded as high as $13.96 and last traded at $13.87. Approximately 10,924 shares traded hands during trading, a decline of 99% from the average daily volume of 1,205,878 shares. The stock had previously closed at $13.65.
Analyst Ratings Changes
POSH has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their target price on Poshmark from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, June 9th. Stifel Nicolaus boosted their price target on Poshmark from $12.00 to $13.00 in a research report on Tuesday, June 28th. Barclays raised Poshmark from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $13.00 to $17.00 in a research report on Monday, August 15th. MKM Partners reissued a "neutral" rating and issued a $11.00 price target on shares of Poshmark in a research report on Thursday, July 28th. Finally, Raymond James lowered Poshmark from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 29th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $18.00.
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Poshmark Stock Performance
The company has a 50 day simple moving average of $11.93 and a two-hundred day simple moving average of $11.74. The firm has a market cap of $1.13 billion, a PE ratio of -19.17 and a beta of 0.29.
Poshmark (NASDAQ:POSH – Get Rating) last posted its quarterly earnings results on Thursday, August 11th. The clothing resale marketplace reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The firm had revenue of $89.10 million for the quarter, compared to analysts' expectations of $87.40 million. Poshmark had a negative net
margin of 17.12% and a negative return on equity of 14.24%. The firm's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) EPS. As a group, research analysts predict that Poshmark, Inc. will post -1.02 earnings per share for the current fiscal year.
Insider Buying and Selling at Poshmark
In other Poshmark news, COO John Michael Mcdonald sold 4,298 shares of the business's stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $10.69, for a total transaction of $45,945.62. Following the sale, the chief operating officer now owns 84,384 shares in the company, valued at approximately $902,064.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 37.96% of the company's stock.
Institutional Trading of Poshmark
A number of hedge funds have recently modified their holdings of POSH. Northern Trust Corp boosted its stake in shares of Poshmark by 163.0% in the fourth quarter. Northern Trust Corp now owns 89,913 shares of the clothing resale marketplace's stock worth $1,532,000 after buying an additional 55,720 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Poshmark by 14.8% in the fourth quarter. Renaissance Technologies LLC now owns 589,100 shares of the clothing resale marketplace's stock worth $10,032,000 after buying an additional 76,100 shares during the last quarter. Gotham Asset Management LLC purchased a new stake in shares of Poshmark in the fourth quarter worth about $219,000. Point72 Asset Management L.P. boosted its stake in shares of Poshmark by 590.9% in the fourth quarter. Point72 Asset Management L.P. now owns 393,800 shares of the clothing resale marketplace's stock worth $6,706,000 after buying an additional 336,800 shares during the last quarter. Finally, 6elm Capital LP purchased a new stake in shares of Poshmark in the fourth quarter worth about $6,405,000. Hedge funds and other institutional investors own 79.38% of the company's stock.
Poshmark Company Profile
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Poshmark, Inc operates as a social marketplace for new and secondhand style products in the United States, Canada, India, and Australia. The company offers apparel, footwear, home, beauty, and pet products, as well as accessories. As of December 31, 2021, it had 7.6 million active buyers. The company was formerly known as GoshPosh, Inc and changed its name to Poshmark, Inc in 2011.
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