Cricut (NASDAQ:CRCT) Price Target Cut to $5.75

Cricut is a company that designs and manufactures cutting machines for hobbyists and small businesses. The company's stock is listed on the NASDAQ stock exchange under the ticker symbol "CRCT". On July 15, 2021, it was announced that the price target for Cricut's stock had been cut from $6.75 to $5.75 by a research firm called Needham & Company.

The reason for the price target cut is not immediately clear, but it could be due to a number of factors such as changes in market conditions, increased competition, or negative news about the company's financial performance. It's also possible that the research firm simply revised its estimates based on new information or analysis.

It's worth noting that stock price targets are not necessarily accurate and can be subject to change based on a variety of factors. Additionally, the price target cut does not necessarily mean that Cricut's stock will actually trade at $5.75 per share. It is simply a research firm's estimate of what the stock could be worth in the future.