Cricut Inc gains after Q1 profit beats estimates

Cricut

14/05/2021 15:53

** DIY tool maker's shares  CRCT.O  up 6.5% at $21.29
    ** CRCT on Thursday reported Q1 profit of $0.24/shr vs est
$0.21/shr - Refinitiv IBES data
    ** Q1 revenue more than doubles to $323.8 mln  urn:newsml:reuters.com:*:nGNX6hQsHB
    ** Cricut's connected machines, design apps, accessories and
materials allow users to make personalized crafts
    ** Company says it added more than 600,000 users in last
three months, subscription revenue jumped nearly 141%
    ** Barclays raises PT to $28 from $26
    ** Average rating on stock is "buy"; Median PT $27.20
    ** Company's shares trading nearly 6% above March IPO price
of $20

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com))