UPDATE: Baird Starts Cricut, Inc. (CRCT) at Outperform

Baird analyst Mark Altschwager initiates coverage on Cricut, Inc. (NASDAQ: CRCT) with a Outperform rating and a price target of $26.00.

The analyst comments "Cricut is a differentiated creativity platform with an impressive financial profile (>20% EBITDA margins), accomplished management team, recurring revenue streams, and numerous structural tailwinds (personalization, digitization of tools, social/peer-to-peer commerce). With a healthy earnings growth outlook (+high-teens%) and shares trading at a discount to a premium consumer brand & connected platforms peer group (tough revenue comps in the near term as company cycles stay-at-home tailwinds), we see attractive 12-month risk/reward. Our $26 price target is based on ~18x NTM+1 EBITDA."

For an analyst ratings summary and ratings history on Cricut, Inc. click here. For more ratings news on Cricut, Inc. click here.

Shares of Cricut, Inc. closed at $20.00 yesterday.

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