Cricut (NASDAQ:CRCT) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Cricut (NASDAQ:CRCT) issued its quarterly earnings data on Tuesday. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02, Zacks reports. Cricut had a return on equity of 12.36% and a net margin of 8.47%. The firm had revenue of $209.31 million for the quarter, compared to analyst estimates of $214.41 million.

Cricut Price Performance

Shares of NASDAQ:CRCT opened at $5.44 on Thursday. The company has a market capitalization of $1.17 billion, a P/E ratio of 19.43 and a beta of -0.02. The business’s 50 day simple moving average is $5.68 and its 200 day simple moving average is $5.91. Cricut has a 1 year low of $4.43 and a 1 year high of $8.40.

Insider Buying and Selling at Cricut

In related news, CEO Arora Ashish sold 21,250 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $6.00, for a total value of $127,500.00. Following the transaction, the chief executive officer now owns 3,844,590 shares in the company, valued at approximately $23,067,540. This trade represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 373,210 shares of company stock valued at $2,168,982 in the last three months. Corporate insiders own 18.02% of the company’s stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group reduced their target price on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a research report on Wednesday, November 6th.

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.