Morgan Stanley raised the price target for the Cricut Inc. (NASDAQ:CRCT) stock from “an Equal-weight” to “an Underweight”. The rating was released on August 13, 2021. We previously noted in another research note published on August 13, 2021 by Goldman that downgraded the stock from a Buy to a Neutral with a price target of $31 for CRCT stock. The research report from Morgan Stanley has downgraded the stock from Overweight to Equal-Weight, with a price target set at $40. The stock was initiated by Robert W. Baird, who disclosed in a research note on April 19, 2021, to Outperform and set the price objective to $26. In their research brief published April 19, 2021, Morgan Stanley analysts initiated the Cricut Inc. stock to Overweight with a price target of $23.
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The latest trade, Performances and Moving Averages give us the following Picture
The share price of Cricut Inc. (NASDAQ:CRCT) dipped -18.20% to close Friday’s market session at $28.23, lower as compared to yesterday’s close. The stock price fluctuated between $24.75 and $29.20 throughout the trading session with the volume trading being 7690665 shares, which represented a significant variation when compared to the three months average volume of 913.16K shares. The firm’s stock price fluctuated -21.47% within the last five trades and -18.39% within the last 30 trades, which was a significant change from the beginning of this year. CRCT stock is trading at a margin of -20.22%, -20.42% and -5.15% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
As of the close of trading, CRCT deals in the Technology domain. The stock is trading -40.39 percent below its 52-week high and 89.72 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is null. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Cricut Inc.’s Profitability and Valuation Ratios Tell Us About the Stock?
With regard to the profitability of the company, the operating margin is currently at 23.30 percent and the profit margin is 18.00 percent, and the company has reported a gross margin of 35.80 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.
The stock’s market cap achieved a total value of $7.67 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio for Cricut Inc. (NASDAQ:CRCT) is 32.23. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 29.07. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 6.73 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 9.57, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 17.90 percent of Cricut Inc. shares are owned by insiders, and 88.85 percent are held by financial institutions. Abdiel Capital Management, LLC, the 10% Owner at Cricut Inc. (CRCT) has bought 1,500,000 shares of firm on Aug 13 at a price of $27.59 against the total amount of $41.38 million. In another inside trade, Abdiel Capital Management, LLC, 10% Owner of Cricut Inc. (NASDAQ:CRCT) bought 72,746 shares of the firm on Aug 12 for a total worth of $2.44 million at a price of $33.52. An inside trade which took place on Aug 11, 10% Owner of Cricut Inc. Abdiel Capital Management, LLC bought 130,198 shares of firm against total price of $4.24 million at the cost of $32.60 per share.