Poshmark, Inc. (NASDAQ: POSH) has received a consensus rating of “Hold” from the fourteen analysts who cover the company, reports MarketBeat.com. One investment analyst rated the stock with a sell recommendation, eight gave a hold recommendation, and five gave the company a buy recommendation. The 12-month average target price among brokers who reported on the stock in the past year is $ 34.36.
POSH has been the subject of several research analyst reports. Stifel Nicolaus lowered his price target for Poshmark shares from $ 48.00 to $ 28.00 and established a “buy” rating for the company in a report released on Wednesday, November 10. Guggenheim began covering Poshmark shares in a research note on Monday, November 22. They issued a “neutral” rating and a target price of $ 22.00 for the company. William Blair downgraded Poshmark shares from an “outperformance” rating to a “market performance” rating in a Wednesday, November 10 research note. Raymond James reduced his target price on Poshmark shares from $ 49 to $ 29 and established an “outperformance” rating for the company in a research note on Wednesday, November 10. Finally, Cowen downgraded Poshmark’s shares from an “outperformance” rating to a “market performance” rating and lowered their target price for the share from $ 42.00 to $ 22.00 in a rating. looking for Tuesday, November 16.
In other news, COO John michael mcdonald sold 1,822 shares of the company in a transaction dated Friday, December 3. The shares were sold for an average price of $ 17.04, for a total value of $ 31,046.88. The sale has been disclosed in a legal file with the SEC, which can be accessed through this hyperlink. Also, director Hans toung sold 14,959 shares of the company in a transaction dated Wednesday, November 24. The shares were sold at an average price of $ 19.11, for a total trade of $ 285,866.49. Disclosure of this sale can be found here. Insiders have sold a total of 264,158 shares of the company valued at $ 5,109,069 in the past three months.
Several hedge funds have recently changed their holdings in the company. Temasek Holdings Private Ltd purchased a new stake in Poshmark shares in the 3rd quarter valued at approximately $ 141,886,000. Price T Rowe Associates Inc. MD increased its holdings of Poshmark shares by 38.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,351,758 clothing resale market shares valued at $ 64,533,000 after purchasing an additional 377,893 shares during the period. Vanguard Group Inc. increased its holdings of Poshmark shares by 89.2% in the second quarter. Vanguard Group Inc. now owns 1,182,208 clothing resale market shares valued at $ 56,440,000 after purchasing an additional 557,416 shares during the period. CI Investments Inc. increased its stake in Poshmark by 26.1% in the 3rd quarter. CI Investments Inc. now owns 1,119,859 clothing resale market shares valued at $ 26,608,000 after purchasing an additional 231,537 shares during the last quarter. Finally, FIL Ltd increased its stake in Poshmark by 148.0% in the 3rd quarter. FIL Ltd now owns 644,230 clothing resale market shares valued at $ 15,307,000 after purchasing an additional 384,459 shares in the last quarter. 15.95% of the shares are currently held by institutional investors.
Actions of Chic stock open at $ 17.10 Thursday. Poshmark has a 12 month low of $ 16.08 and a 12 month high of $ 104.98. The company has a market capitalization of $ 1.32 billion and a price-to-earnings ratio of -10.49. The company has a fifty-day moving average of $ 20.42 and a 200-day moving average of $ 28.44.
Poshmark (NASDAQ: POSH) last reported its quarterly results on Tuesday, November 9. The clothing resale market reported ($ 0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($ 0.10) by $ 0.01. Poshmark had a negative net margin of 28.49% and a negative return on equity of 10.41%. Sell-side analysts expect Poshmark to post earnings per share of -0.55 for the current year.
Poshmark Company Profile
Poshmark, Inc. operates as a social marketplace for new and used styling products in the United States, Canada, and Australia. The company offers clothing, footwear, home, beauty and pet products, as well as accessories. As of December 31, 2020, it had 6.5 million active buyers. The company was formerly known as GoshPosh, Inc and changed its name to Poshmark, Inc in 2011.
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