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Axiom's Anthony Downgrades Cimpress To Sell, Says 'Take Profits'


Axiom's Victor Anthony downgraded Cimpress NV (NASDAQ: CMPR) from Hold to Sell with a price target of $84.00.

The analyst had four main reasons for believing the current stock price did not reflect the full prospects of the company's decelerating growth:

  1. Forecasted slowing growth of the Vistraprint brand
  2. Margin compression in FY2017 resulting from increasing advertising expenses, "wind-down of the Staples relationship" and investment in China.
  3. Slowing of share repurchases which has been a "key source of growth over the past five years"
  4. M&A execution challenges

Additionally, Anthony noted "continued challenges in Europe and upcoming investment in shipping are likely to pressure top-line growth rates."
To reflect these concerns, Anthony lowered his FY17 and FY18 EBITDA estimates to $1.50 and $2.26, respectively.

Latest Ratings for CMPR

Sep 2019UpgradesSellHold
Mar 2019UpgradesSellHold
Mar 2019UpgradesSellHold

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Posted-In: Analyst Color News Downgrades Price Target Analyst Ratings


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