Poshmark, Inc. (NASDAQ:POSH - Get Rating) has earned an average recommendation of "Hold" from the fourteen analysts that are covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $18.09.
A number of research analysts have recently issued reports on the stock. Morgan Stanley cut their target price on shares of Poshmark from $20.00 to $18.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 23rd. The Goldman Sachs Group dropped their price objective on shares of Poshmark from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, June 9th. JMP Securities began coverage on shares of Poshmark in a research report on Wednesday, June 1st. They issued a "market perform" rating for the company. Guggenheim dropped their price objective on shares of Poshmark from $22.00 to $13.00 and set a "neutral" rating for the company in a research report on Wednesday, March 23rd. Finally, Cowen dropped their price objective on shares of Poshmark to $22.00 and set a "na" rating for the company in a research report on Monday, May 16th.
NASDAQ:POSH opened at $11.77 on Thursday. Poshmark has a 1 year low of $8.97 and a 1 year high of $48.74. The firm has a 50 day moving average of $11.34 and a 200-day moving average of $13.79. The stock has a market capitalization of $914.38 million, a P/E ratio of -23.54 and a beta of 0.20.
Poshmark (NASDAQ:POSH - Get Rating) last posted its earnings results on Thursday, May 12th. The clothing resale marketplace reported ($0.18) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.08. Poshmark had a negative net margin of 11.59% and a negative return on equity of 9.37%. The company had revenue of $90.90 million during the quarter, compared to analysts' expectations of $87.66 million. During the same quarter in the previous year, the company posted ($0.33) earnings per share. Poshmark's quarterly revenue was up 12.3% compared to the same quarter last year. On average, analysts anticipate that Poshmark will post -0.97 earnings per share for the current fiscal year.
In other news, Director Hans Tung sold 110,576 shares of the business'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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings (Private) Ltd Temasek sold 2,000,000 shares of the business's stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $10.65, for a total transaction of $21,300,000.00. Following the completion of the transaction, the insider now directly owns 3,971,646 shares of the company's stock, valued at approximately $42,298,029.90. The disclosure for this sale can be found here. Insiders have sold a total of 2,419,656 shares of company stock valued at $26,543,399 in the last quarter.
Hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Poshmark by 481.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,884 shares of the clothing resale marketplace's stock worth $168,000 after purchasing an additional 8,184 shares during the period. Two Sigma Advisers LP acquired a new position in Poshmark in the 3rd quarter worth $1,475,000. Goldman Sachs Group Inc. boosted its stake in Poshmark by 26.5% in the 3rd quarter. Goldman Sachs Group Inc. now owns 15,354 shares of the clothing resale marketplace's stock worth $365,000 after purchasing an additional 3,215 shares during the period. Penserra Capital Management LLC boosted its stake in Poshmark by 17.1% in the 4th quarter. Penserra Capital Management LLC now owns 555,761 shares of the clothing resale marketplace's stock worth $9,464,000 after purchasing an additional 81,190 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in Poshmark in the 4th quarter worth $5,421,000. 73.07% of the stock is owned by institutional investors.
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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