Poshmark flags bigger-than-expected hit from Apple privacy change, shares dive
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Poshmark (POSH): 'Soft Results' Prompt Two Analysts to Downgrade to Neutral, Shares Collapse 32% as iOS Privacy Changes Hurt Business
November 10, 2021 9:37 AM ESTShares of Poshmark (NASDAQ: POSH) are down 32% in pre-open Wednesday after the company reported worse-than-expected Q3 results and guidance.
Poshmark reported Q3 EPS of ($0.09) to miss on the analyst estimate of ($0.07). Revenue for the quarter came in at $79.7 million versus the consensus estimate of $82.69 million.
We delivered a solid quarter and our sixth consecutive quarter of operating profitability, despite difficult comparisons and the headwinds of Apple privacy changes, and our investments in marketing accelerated Trailing-Twelve-Months Active Buyer growth. We have a long runway of growth ahead, driven by strategic investments in product... More
Poshmark (POSH) PT Lowered to $28 at Stifel
November 10, 2021 6:52 AM ESTStifel analyst Scott Devitt lowered the price target on Poshmark (NASDAQ: POSH) to $28.00 (from $48.00) while maintaining a Buy rating.
The analyst commented, "Poshmark reported disappointing 3Q results and guided 4Q revenue and adj. EBITDA below prior forecasts. Headwinds from IDFA impacted results to a... More
