Cricut Inc. (NASDAQ: CRCT) Surged -27.14% In 6 Months – Here’s What To Expect Next – Marketing Sentinel
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Cricut Inc. (NASDAQ: CRCT) Surged -27.14% In 6 Months – Here’s What To Expect Next

During the last session, Cricut Inc. (NASDAQ:CRCT)’s traded shares were 0.5 million. At the end of the trading day, the stock’s price was $9.80, reflecting an intraday loss of -5.86% or -$0.61. The 52-week high for the CRCT share is $47.36, that puts it down -383.27 from that peak though still a striking 8.16% gain since the share price plummeted to a 52-week low of $9.00. The company’s market capitalization is $2.21B, and the average trade volume was 365.10K shares over the past three months.

Cricut Inc. (CRCT) received a consensus recommendation of an Underweight from analysts. That translates to a mean rating of 3.00. CRCT has a Sell rating from 2 analyst(s) out of 5 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 0 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.22.

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Cricut Inc. (NASDAQ:CRCT) trade information

Cricut Inc. (CRCT) registered a -5.86% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -5.86% in intraday trading to $9.80 this Friday, 05/13/22, hitting a weekly high. The stock’s 5-day price performance is -18.33%, and it has moved by -27.14% in 30 days. Based on these gigs, the overall price performance for the year is -60.07%.

The consensus price target of analysts on Wall Street is $9.60, which implies a decrease of -2.08% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $7.00 and $12.00 respectively. As a result, CRCT is trading at a discount of -22.45% off the target high and 28.57% off the low.

Cricut Inc. (CRCT) estimates and forecasts

Statistics show that Cricut Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Cricut Inc. (CRCT) shares have gone down -58.56% during the last six months, with a year-to-date growth rate less than the industry average at 4.69% against 17.10. In the rating firms’ projections, revenue will increase 36.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $398.04 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $334.84 million by the end of Mar 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $370.97 million and $323.82 million respectively. In this case, analysts expect current quarter sales to grow by 7.30% and then jump by 3.40% in the coming quarter.

While earnings are projected to return -8.50% in 2022, the next five years will return 10.70% per annum.

CRCT Dividends

Cricut Inc. is due to release its next quarterly earnings on November 10. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Cricut Inc. (NASDAQ:CRCT)’s Major holders

Cricut Inc. insiders own 10.18% of total outstanding shares while institutional holders control 63.32%, with the float percentage being 70.50%. Abdiel Capital Advisors, LP is the largest shareholder of the company, while 73 institutions own stock in it. As of Sep 29, 2021, the company held over 9.38 million shares (or 25.85% of all shares), a total value of $258.6 million in shares.

The next largest institutional holding, with 3.45 million shares, is of Morgan Stanley’s that is approximately 9.50% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $95.05 million.

Also, the Mutual Funds coming in first place with the largest holdings of Cricut Inc. (CRCT) shares are Morgan Stanley Inst Fund Inc-Inception Port and ClearBridge Select Fund. Data provided on Sep 29, 2021 indicates that Morgan Stanley Inst Fund Inc-Inception Port owns about 1.76 million shares. This amounts to just over 4.85 percent of the company’s overall shares, with a $48.55 million market value. The same data shows that the other fund manager holds slightly less at 0.81 million, or about 2.24% of the stock, which is worth about $23.0 million.

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