Morgan Stanley Maintains Underweight Rating for Cricut: Here's What You Need To Know

Morgan Stanley Maintains Underweight Rating for Cricut: Here's What You Need To Know

Morgan Stanley has decided to maintain its Underweight rating of Cricut CRCT and lower its price target from $5.70 to $5.00.

Shares of Cricut are trading down 3.0% over the last 24 hours, at $9.06 per share.

A move to $5.00 would account for a 44.81% decrease from the current share price.

About Cricut

Cricut Inc designs and builds a creativity platform that enables users to turn ideas into professional-looking handmade goods. With its connected machines, design apps and accessories, and materials, the users create everything from personalized birthday cards, mugs, and T-shirts to large-scale interior decorations. It derives revenues from three segments including Connected machines, Subscriptions, and Accessories and materials. It derives maximum revenue from the Accessories and Materials segment through the sales of Cricut EasyPress, hand tools, machine replacement tools and blades, project materials such as vinyl and iron-on, and sales of a la carte digital content purchases, including fonts, images, and projects.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Posted In: BZI-AAR-UPDATEAnalyst Ratings