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 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 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.
