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

Cricut (NASDAQ:CRCT - Get Free Report) released its quarterly earnings data on Tuesday. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02, Zacks reports. The firm had revenue of $209.31 million during the quarter, compared to the consensus estimate of $214.41 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%.

Cricut Stock Down 2.1 %

Shares of CRCT stock traded down $0.12 on Friday, hitting $5.56. The stock had a trading volume of 440,330 shares, compared to its average volume of 317,837. The business has a 50 day moving average price of $5.68 and a 200 day moving average price of $5.90. The company has a market cap of $1.19 billion, a PE ratio of 19.86 and a beta of -0.02. Cricut has a one year low of $4.55 and a one year high of $8.40.

Analysts Set New Price Targets

Separately, Morgan Stanley decreased their price objective on Cricut from $3.90 to $3.80 and set an "underweight" rating for the company in a report on Thursday.

Insider Activity at Cricut

In other Cricut news, CEO Arora Ashish sold 60,000 shares of Cricut stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.87, for a total value of $352,200.00. Following the transaction, the chief executive officer now owns 3,897,038 shares in the company, valued at $22,875,613.06. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 373,210 shares of company stock worth $2,168,982 over the last three months. 18.02% of the stock is owned by corporate insiders.

Remove Ads

Cricut Company Profile

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.