Cricut: Expect Poor FY2024 Performance To Drag Down Valuation [Seeking Alpha]
Cricut, Inc. - Class A common stock (CRCT)
Company Research
Source: Seeking Alpha
Recent results show a decline in revenue and user engagement, indicating weak consumer spending. The lack of capital return to shareholders and focus on reinvestment further support the sell rating. Overview My recommendation for Cricut Inc. ( NASDAQ: CRCT ) is a sell rating as I expect FY24 to continue seeing poor performance, which will cause the valuation to rerate back to 18x forward earnings. Note that I previously rated a hold rating for CRCT as the business continued to see very strong headwinds that made it impossible to model the stock's near-term performance. Recent Results & Updates The situation with CRCT appears to be a lot worse than I expected. In the 4Q23 quarter , CRCT reported revenue of $232 million, which was below consensus expectations by ~7% and was an 18% decline vs. 4Q22. Although the gross margin came in stronger than expected, reporting $41.96 million vs. the consensus expectation of $34.5 million, operating expenses went up by 19% to $80.5 millio
Show less
Read more
Impact Snapshot
Event Time:
CRCT
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
CRCT alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
CRCT alerts
High impacting Cricut, Inc. - Class A common stock news events
Weekly update
A roundup of the hottest topics
CRCT
News
- Cricut's newest cutting machine is the perfect size for casual crafters [USA TODAY]USA TODAY
- Is Cricut, Inc.'s (NASDAQ:CRCT) Stock Price Struggling As A Result Of Its Mixed Financials? [Yahoo! Finance]Yahoo! Finance
- Cricut to Announce First Quarter 2024 Financial Results on May 7, 2024GlobeNewswire
- Be Wary Of Cricut (NASDAQ:CRCT) And Its Returns On Capital [Yahoo! Finance]Yahoo! Finance
- Love DIY Crafts? My Favorite Cricut Cutting Machine Is 22% Off Right Now [CNET News]CNET News
CRCT
Earnings
- 3/5/24 - Miss
CRCT
Sec Filings
- 4/3/24 - Form ARS
- 4/3/24 - Form DEFA14A
- 4/3/24 - Form DEF
- CRCT's page on the SEC website