Analysts Set Cricut, Inc. (NASDAQ:CRCT) PT at $3.67

Shares of Cricut, Inc. (NASDAQ:CRCT) have been given an average recommendation of “Strong Sell” by the five analysts that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and one has assigned a hold recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $3.6667.

A number of research analysts recently commented on the stock. Barclays reaffirmed an “underweight” rating and set a $4.00 price objective on shares of Cricut in a research report on Wednesday, March 4th. The Goldman Sachs Group cut their target price on shares of Cricut from $3.50 to $3.00 and set a “sell” rating for the company in a research report on Wednesday, January 14th. UBS Group reissued a “cautious” rating on shares of Cricut in a research note on Wednesday, March 4th. Finally, Weiss Ratings raised shares of Cricut from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, March 5th.

Insider Buying and Selling

In other Cricut news, CEO Arora Ashish sold 60,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $4.28, for a total value of $256,800.00. Following the transaction, the chief executive officer owned 3,738,453 shares in the company, valued at $16,000,578.84. The trade was a 1.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 235,124 shares of company stock valued at $1,064,443 in the last quarter. Insiders own 18.02% of the company’s stock.

Institutional Investors Weigh In On Cricut

Several institutional investors have recently made changes to their positions in CRCT. Jane Street Group LLC increased its holdings in Cricut by 43.7% in the first quarter. Jane Street Group LLC now owns 20,176 shares of the company’s stock worth $104,000 after buying an additional 6,140 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cricut by 7.0% in the second quarter. Geode Capital Management LLC now owns 1,395,525 shares of the company’s stock valued at $9,449,000 after acquiring an additional 91,339 shares during the last quarter. Swiss National Bank lifted its stake in Cricut by 3.8% in the second quarter. Swiss National Bank now owns 93,700 shares of the company’s stock valued at $634,000 after acquiring an additional 3,400 shares during the last quarter. Legal & General Group Plc grew its position in Cricut by 15.8% in the second quarter. Legal & General Group Plc now owns 59,246 shares of the company’s stock worth $401,000 after acquiring an additional 8,095 shares in the last quarter. Finally, Franklin Resources Inc. bought a new stake in Cricut in the second quarter worth approximately $232,000. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Cricut Trading Down 1.3%

Shares of Cricut stock opened at $3.74 on Friday. Cricut has a 1 year low of $3.73 and a 1 year high of $7.33. The company has a market cap of $792.06 million, a P/E ratio of 10.39 and a beta of 0.17. The stock has a 50-day moving average price of $4.31 and a 200 day moving average price of $4.91.

Cricut (NASDAQ:CRCT) last released its earnings results on Wednesday, March 4th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $203.60 million for the quarter, compared to analysts’ expectations of $202.22 million. Cricut had a return on equity of 20.44% and a net margin of 10.82%. On average, equities analysts forecast that Cricut will post 0.28 earnings per share for the current fiscal year.

Cricut Company Profile

Cricut, Inc (NASDAQ: CRCT) is a U.S.-based technology company specializing in personal and small-business crafting solutions. The company designs and markets a family of cutting machines that leverage computer-aided design to precisely cut a wide range of materials, including paper, vinyl, fabric and leather. Complementing its hardware offerings, Cricut provides proprietary software and mobile applications that enable users to create custom artwork, import graphics and access a vast library of pre-designed projects and fonts through a subscription service.

Founded as a division of Provo Craft & Novelty in 2005, Cricut emerged as an independent public company in March 2021.