Cimpress (NASDAQ:CMPR) Shares Gap Down After Earnings Miss

Cimpress plc (NASDAQ:CMPR) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. 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 trading hands.

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Cimpress

In other news, EVP Maarten Wensveen sold 19,251 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $92.96, for a total value of $1,789,572.96. Following the sale, the executive vice president directly owned 19,674 shares of the company’s stock, valued at $1,828,895.04. This represents a 49.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sean Edward Quinn sold 5,009 shares of Cimpress stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $104.22, for a total transaction of $522,037.98. Following the transaction, the executive vice president directly owned 28,937 shares of the company’s stock, valued at approximately $3,015,814.14. This trade represents a 14.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 47,240 shares of company stock worth $4,715,549 over the last ninety days. Insiders own 10.20% of the company’s stock.

Institutional Trading of Cimpress

Hedge funds have recently made changes to their positions in the stock. KBC Group NV purchased a new stake in shares of Cimpress in the 1st quarter worth approximately $30,000. Financial Management Professionals Inc. bought a new stake in Cimpress in the second quarter worth $33,000. Allworth Financial LP increased its holdings in shares of Cimpress by 250.0% during the third quarter. Allworth Financial LP now owns 518 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 370 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Cimpress by 32.3% in the 2nd quarter. Headlands Technologies LLC now owns 986 shares of the business services provider’s stock worth $46,000 after purchasing an additional 241 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Cimpress in the 2nd quarter worth about $51,000. 77.64% of the stock is owned by institutional investors.

Cimpress Stock Performance

The company’s 50-day moving average is $96.08 and its 200 day moving average is $84.44. The company has a market capitalization 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.