Analysts Anticipate Cricut, Inc. (NASDAQ:CRCT) Will Announce Earnings of $0.15 Per Share

Wall Street brokerages expect Cricut, Inc. (NASDAQ:CRCT) to post $0.15 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Cricut’s earnings. The business is expected to report its next earnings report on Thursday, November 11th.

On average, analysts expect that Cricut will report full year earnings of $0.84 per share for the current fiscal year. For the next year, analysts expect that the firm will post earnings of $0.98 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Cricut.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings results on Thursday, August 12th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm had revenue of $334.49 million during the quarter.

A number of brokerages have weighed in on CRCT. The Goldman Sachs Group cut shares of Cricut from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $37.00 to $31.00 in a report on Friday, August 13th. Barclays cut Cricut from an “equal weight” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research note on Friday, October 1st. Zacks Investment Research raised shares of Cricut from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, Morgan Stanley downgraded Cricut from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $40.00 to $29.00 in a research report on Friday, August 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $28.86.

In related news, EVP Gregory Rowberry sold 34,802 shares of the firm’s stock in a transaction that occurred on Thursday, August 26th. The shares were sold at an average price of $28.40, for a total value of $988,376.80. Following the completion of the transaction, the executive vice president now directly owns 579,117 shares of the company’s stock, valued at approximately $16,446,922.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Abdiel Capital Management, Llc purchased 24,259 shares of the company’s stock in a transaction on Monday, July 19th. The shares were purchased at an average cost of $33.19 per share, with a total value of $805,156.21. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 3,940,674 shares of company stock worth $114,963,192 and sold 141,116 shares worth $3,993,625.

A number of institutional investors have recently modified their holdings of the stock. UBS Group AG purchased a new stake in Cricut in the first quarter worth $30,000. Advisor Group Holdings Inc. lifted its stake in Cricut by 78.5% in the 2nd quarter. Advisor Group Holdings Inc. now owns 1,421 shares of the company’s stock worth $59,000 after purchasing an additional 625 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Cricut in the first quarter valued at approximately $198,000. Cubist Systematic Strategies LLC purchased a new position in shares of Cricut during the 2nd quarter worth approximately $208,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Cricut in the second quarter worth $213,000. 8.26% of the stock is owned by institutional investors.

Shares of Cricut stock opened at $27.00 on Monday. The company’s 50 day moving average is $30.05. Cricut has a 1 year low of $14.88 and a 1 year high of $47.36.

Cricut Company Profile

Cricut, Inc designs and markets a creativity platform that enables users to turn ideas into professional-looking handmade goods in the United States, Europe, and internationally. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company provides connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations under the Cricut brand.

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