Poshmark (NASDAQ:POSH) Sets New 1-Year Low at $8.99

Poshmark, Inc. (NASDAQ:POSH – Get Rating)’s stock price hit a new 52-week low on Thursday . The stock traded as low as $8.99 and last traded at $9.32, with a volume of 1978194 shares traded. The stock had previously closed at $10.07.

POSH has been the subject of several analyst reports. Guggenheim decreased their target price on Poshmark from $22.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, March 23rd. Jefferies Financial Group initiated coverage on Poshmark in a research report on Thursday, March 17th. They set a “hold” rating and a $14.00 target price for the company. Stifel Nicolaus decreased their target price on Poshmark from $15.00 to $12.00 in a research report on Friday. JMP Securities decreased their target price on Poshmark from $30.00 to $20.00 in a research report on Wednesday, March 23rd. Finally, Morgan Stanley decreased their target price on Poshmark from $20.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 23rd. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.50.

The business has a 50 day moving average of $12.29 and a two-hundred day moving average of $15.71. The firm has a market cap of $935.35 million, a P/E ratio of -7.97 and a beta of 0.23.

Poshmark (NASDAQ:POSH – Get Rating) last posted its quarterly earnings data on Thursday, May 12th. The clothing resale marketplace reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.08. The firm had revenue of $90.90 million for the quarter, compared to analysts’ expectations 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 business earned ($0.33) EPS. Equities research analysts expect that Poshmark, Inc. will post -0.98 EPS for the current fiscal year.

In other Poshmark news, Director Hans Tung sold 110,576 shares of Poshmark stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $13.18, for a total value of $1,457,391.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 300,266 shares of company stock valued at $4,062,366 over the last 90 days.

Several large investors have recently added to or reduced their stakes in POSH. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Poshmark by 481.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,884 shares of the clothing resale marketplace’s stock valued at $168,000 after acquiring an additional 8,184 shares during the period. Two Sigma Advisers LP purchased a new stake in Poshmark during the 3rd quarter valued at $1,475,000. Goldman Sachs Group Inc. boosted its stake in Poshmark by 26.5% during the 3rd quarter. Goldman Sachs Group Inc. now owns 15,354 shares of the clothing resale marketplace’s stock valued at $365,000 after purchasing an additional 3,215 shares during the last quarter. Circle Wealth Management LLC purchased a new stake in Poshmark during the 3rd quarter valued at $826,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Poshmark in the 4th quarter worth $5,421,000. Institutional investors own 73.07% of the company’s stock.

Poshmark Company Profile (NASDAQ:POSH)

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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