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Cricut, Inc. (CRCT) designs and markets a creativity platform that enables users to turn ideas into professional-looking handmade goods in the United States, Europe, and internationally.
It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials.
The company provides connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations under the Cricut brand.
It offers Cricut Joy, a cutting and writing machine to personalize, organize, and customize kitchen, office, school, celebration, and idea projects; Cricut Maker, a cutting machine that handles fabrics, leather, paper, and balsa wood; Cricut Explore, a cutting machine for DIY projects; Cricut EasyPress 2, a machine that delivers heat transfers on baby bodysuits, big-time jerseys, and banners; Cricut EasyPress Mini, a heat transfer machine for curved surfaces, as well as hard-to-reach spots between seams and buttons.
The company also provides Infusible Ink, a heat transfer system that permanently infused into base material, as well as accessories and materials, such as knifes, blade changing systems, cutting rulers and self-healing mats, hand tools, crafting materials, and cases. It serves customers through its online store.
Cricut, Inc. was formerly known as Provo Craft & Novelty, Inc. and changed its name to Cricut, Inc. in March 2018.
Cricut Inc reported 1st Quarter March 2021 earnings of $0.24 per share on revenue of $323.8 million. The consensus earnings estimate was $0.20 per share on revenue of $294.1 million.
This stock should see an increase in share prices following its recent triple-digit profit and sales gain for Q1 after going public in March.
Entry Point: $36.75
Stop Loss: $35.00
Trading Range: $18.00 - $38.31
Target Price: $40.45
CRCT closed at $42
