Poshmark (NASDAQ:POSH – Get Rating) posted its earnings results on Thursday. The clothing resale marketplace reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.08, MarketWatch Earnings reports. The business had revenue of $90.90 million during the quarter, compared to analyst estimates of $87.66 million. Poshmark had a negative return on equity of 10.97% and a negative net margin of 30.47%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.33) EPS. Poshmark updated its Q2 2022 guidance to EPS.
Shares of POSH stock opened at $12.04 on Friday. Poshmark has a 12-month low of $8.97 and a 12-month high of $52.39. The stock has a market capitalization of $935.39 million, a price-to-earnings ratio of -24.08 and a beta of 0.23. The stock’s 50-day moving average price is $12.29 and its 200-day moving average price is $15.71.
In other Poshmark news, Director Hans Tung sold 110,576 shares of the company’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $13.18, for a total value of $1,457,391.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 300,266 shares of company stock worth $4,062,366.
A number of analysts have commented on the company. Jefferies Financial Group assumed coverage on Poshmark in a report on Thursday, March 17th. They issued a “hold” rating and a $14.00 target price for the company. Stifel Nicolaus dropped their price target on Poshmark from $15.00 to $12.00 in a research note on Friday. Wedbush dropped their price target on Poshmark from $23.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 23rd. Zacks Investment Research upgraded Poshmark from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, JMP Securities lowered their target price on Poshmark from $30.00 to $20.00 in a research report on Wednesday, March 23rd. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.50.
About Poshmark (Get Rating)
Poshmark, Inc operates as a social marketplace for new and secondhand style products in the United States, Canada, India, and Australia. The company offers apparel, footwear, home, beauty, and pet products, as well as accessories. As of December 31, 2021, it had 7.6 million active buyers. The company was formerly known as GoshPosh, Inc and changed its name to Poshmark, Inc in 2011.
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