Barrington analyst Kevin Steinke reiterated a Buy rating on Cimpress (CMPR – Research Report) today and set a price target of $113.00.
Kevin Steinke has given his Buy rating due to a combination of factors that demonstrate Cimpress’s strong performance and positive future outlook. The company’s third-quarter results showcased a year-over-year revenue increase of 5% to $780.6 million, closely aligning with projections. This growth remained solid despite potential setbacks such as the Easter holiday timing, which is now benefiting the fourth quarter. Cimpress’s significant segments, including Vista, Upload & Print, and National Pen, reported consistent organic constant-currency revenue growth, with Vista also seeing an increase in total customer count and average order value. These elements signal a robust and improving customer value proposition across the company’s portfolio.
Moreover, Cimpress’s adjusted EBITDA for the third quarter rose by 36% year-over-year, surpassing expectations due to revenue growth, substantial cost savings from a recent reduction plan, and operating expense efficiencies. The company’s forward-looking stance is also positive, with expectations to meet or exceed fiscal year 2024 guidance, including a notable increase in adjusted EBITDA. Additionally, Cimpress’s aggressive share repurchase strategy, which significantly reduced the number of outstanding shares, further underscores the confidence in the company’s financial health and prospects for growth.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CMPR in relation to earlier this year.
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Cimpress (CMPR) Company Description:
Cimpress Plc invests in and builds entrepreneurial and mass-customization businesses. Its business includes BuildASign, Drukwerkdeal, Exaprint, National Pen, Pixartprinting, Printi, Vistaprint and WIRmachenDRUCK. The company was founded by Robert S. Keane in January 1995 and is headquartered in Dundalk, Ireland.
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