Cricut: Near-Term Outlook Continues To See Pressure From Poor Macro Backdrop [Seeking Alpha]
Cricut, Inc. - Class A common stock (CRCT)
Company Research
Source: Seeking Alpha
I maintain a sell rating for Cricut stock due to weak near-term demand and poor macroeconomic conditions impacting discretionary spending. Despite some growth initiatives, CRCT's overall trajectory remains negative, with declining user engagement and poor sequential growth in key metrics. Management's promotional strategies may temporarily boost sales but are unsustainable, in my opinion, leading to potential revenue and margin pressures. wxin/iStock via Getty Images Investment overview I wrote about Cricut, Inc. NASDAQ: CRCT ) previously (June 2024) with a sell rating as I expected demand to stay weak for the foreseeable future given the poor macro environment. Despite the stock down ~12% since my post, I still see downside to the share price as I believe near-term demand is going to remain weak. Until CRCT shows strong improvements in its key operating metrics (user engagement, growth, and conversion), I expect the stock to continue trading at the low end of its historica
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CRCT
News
- Score a Cricut Explore Air 2 for $40 Less Thanks to this Black Friday Deal [CNET News]CNET News
- We Like Cricut's (NASDAQ:CRCT) Earnings For More Than Just Statutory Profit [Yahoo! Finance]Yahoo! Finance
- Why the Cricut machine is a DIYer’s dream [MSNBC.com]MSNBC.com
- Cricut, Inc. (NASDAQ: CRCT) had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $6.50 to $5.75. They now have a "neutral" rating on the stock.MarketBeat
- Cricut Inc (CRCT) Q3 2024 Earnings Call Highlights: Navigating Revenue Declines with Strategic ... [Yahoo! Finance]Yahoo! Finance
CRCT
Earnings
- 11/5/24 - Miss
CRCT
Sec Filings
- 11/21/24 - Form 4
- 11/19/24 - Form 144
- 11/14/24 - Form 4
- CRCT's page on the SEC website