Cricut (CRCT) Set to Announce Earnings on Tuesday

Cricut (NASDAQ:CRCT) will be announcing its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.07 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Cricut (NASDAQ:CRCT) last released its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $231.25 million for the quarter, compared to analysts’ expectations of $252.67 million. Cricut had a return on equity of 9.59% and a net margin of 7.01%. The firm’s revenue for the quarter was down 17.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 EPS. On average, analysts expect Cricut to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Cricut Trading Down 0.2 %

NASDAQ:CRCT opened at $5.38 on Tuesday. The company has a market cap of $1.17 billion, a PE ratio of 22.42 and a beta of 0.11. Cricut has a twelve month low of $4.43 and a twelve month high of $17.89. The company’s 50 day moving average is $4.97 and its two-hundred day moving average is $6.16.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRCT. The Goldman Sachs Group dropped their target price on shares of Cricut from $7.00 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Citigroup dropped their price objective on shares of Cricut from $8.50 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Finally, Barclays dropped their price objective on shares of Cricut from $6.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, March 7th.

Insider Activity at Cricut

In related news, major shareholder Abdiel Capital Management, Llc sold 1,000,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $4.83, for a total value of $4,830,000.00. Following the completion of the transaction, the insider now directly owns 5,273,978 shares in the company, valued at approximately $25,473,313.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 18.02% of the company’s stock.

About Cricut

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.