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Why Poshmark Shares Are Falling Today

Published 23/03/2022, 13:20
© Reuters.  Why Poshmark Shares Are Falling Today
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Poshmark Inc (NASDAQ: POSH) shares are trading lower Wednesday after the company reported worse-than-expected earnings results and issued guidance below estimates.

Poshmark said fourth-quarter revenue increased 22% year-over-year to $84.2 million, which beat the $80.59 million estimate. The company reported a quarterly earnings loss of 19 cents per share, which was worse than the estimate for a loss of 18 cents per share.

Poshmark said it expects first-quarter revenue to be in a range of $86 million to $88 million versus the $90.53 million estimate.

Analyst Assessment: Several analysts lowered price targets on the stock following Poshmark's quarterly results.

  • Raymond James analyst Aaron Kessler maintained Poshmark with an Outperform rating and lowered the price target from $29 to $16.
  • Guggenheim analyst Seth Sigman maintained Poshmark with a Neutral rating and lowered the price target from $22 to $13.
  • Stifel analyst Scott Devitt maintained Poshmark with a Buy rating and lowered the price target from $23 to $19.
  • Morgan Stanley (NYSE:MS) maintained Poshmark with an Equal-Weight rating and lowered the price target from $20 to $18.
  • Wedbush analyst Tom Nikic maintained Poshmark with an Outperform rating and lowered the price target from $23 to $16.
See Also: Why Adobe (NASDAQ:ADBE) Shares Are Sliding

POSH 52-Week Range: $10.65 - $52.39

The stock was down 10.5% at $12.38 at time of publication.

Photo: courtesy of Poshmark.

Latest Ratings for POSH

DateFirmActionFromTo
Nov 2021GuggenheimInitiates Coverage OnNeutral
Nov 2021Cowen & Co.DowngradesOutperformMarket Perform
Nov 2021JMP SecuritiesMaintainsMarket Outperform
View More Analyst Ratings for POSH

View the Latest Analyst Ratings

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