Cimpress (NASDAQ:CMPR) Shares Gap Down Following Weak Earnings

Cimpress plc (NASDAQ:CMPR)’s share price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $97.62, but opened at $87.61. Cimpress shares last traded at $92.4850, with a volume of 62,867 shares traded.

The business services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). Cimpress had a negative return on equity of 8.25% and a net margin of 1.24%.The company had revenue of $944.96 million for the quarter, compared to analysts’ expectations of $945.53 million.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CMPR shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cimpress in a research note on Friday, July 24th. Wall Street Zen upgraded shares of Cimpress from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 14th. Zacks Research raised shares of Cimpress from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. Barrington Research increased their price objective on Cimpress from $95.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Finally, Truist Financial set a $110.00 price objective on Cimpress in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $111.50.

Insider Activity

In related news, EVP Sean Edward Quinn sold 22,980 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $104.61, for a total value of $2,403,937.80. Following the completion of the sale, the executive vice president owned 28,937 shares in the company, valued at $3,027,099.57. The trade was a 44.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Maarten Wensveen sold 19,251 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $92.96, for a total value of $1,789,572.96. Following the completion of the sale, the executive vice president directly owned 19,674 shares of the company’s stock, valued at approximately $1,828,895.04. This represents a 49.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 47,240 shares of company stock worth $4,715,549 over the last quarter. Corporate insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Cimpress

Hedge funds have recently made changes to their positions in the business. Amundi grew its holdings in shares of Cimpress by 73.5% during the 1st quarter. Amundi now owns 7,385 shares of the business services provider’s stock valued at $328,000 after purchasing an additional 3,129 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Cimpress by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,992 shares of the business services provider’s stock valued at $452,000 after buying an additional 282 shares during the period. Legal & General Group Plc boosted its position in Cimpress by 4.2% during the second quarter. Legal & General Group Plc now owns 18,483 shares of the business services provider’s stock valued at $869,000 after buying an additional 751 shares during the period. Prudential Financial Inc. bought a new position in shares of Cimpress during the second quarter valued at about $211,000. Finally, Hsbc Holdings PLC increased its holdings in shares of Cimpress by 15.3% in the second quarter. Hsbc Holdings PLC now owns 11,218 shares of the business services provider’s stock worth $520,000 after buying an additional 1,492 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Cimpress Stock Down 5.4%

The company has a fifty day moving average price of $96.08 and a 200 day moving average price of $84.44. The stock has a market cap of $2.24 billion, a PE ratio of 51.97 and a beta of 1.79.

Cimpress Company Profile

Cimpress NV is a global leader in mass customization and web-to-print services, offering businesses and consumers an online platform to design, order and personalize printed marketing materials and promotional products. As the parent company of Vistaprint and a portfolio of regional print service providers, Cimpress leverages proprietary technology to connect millions of small- and medium-sized customers with a network of manufacturing facilities around the world. Its product range spans business cards, brochures, signage, labels, apparel, packaging and a variety of bespoke merchandise.

The company traces its roots to Vistaprint, founded in 1995 by Robert W.