Goldman Sachs Keeps Sell Rating on Cricut (CRCT) While Raising Price Forecast

Cricut, Inc. (NASDAQ:CRCT) is included among the 11 Best Dividend Penny Stocks to Buy Right Now.

On May 7, Goldman Sachs raised the firm’s price recommendation on Cricut, Inc. (NASDAQ:CRCT) to $3.75 from $3.25. It reiterated a Sell rating on the shares.

During the Q1 2026 earnings call, CEO, President, and Director Ashish Arora said the company continued to face pressure on its overall performance, even though several operating metrics improved during the quarter. He noted that profitability, platform revenue, and global machine sell-out units all moved higher in Q1. Still, those gains were not enough to return the company to overall sales growth, as revenue declined by less than 2% year over year during the quarter.

Arora also discussed several recent product launches and the rollout of a new service offering. He said the company introduced two new cutting machines, Joy 2 and Explore 5, along with the next generation of its handheld heat presses, EasyPress SE. In addition, he noted that Cricut launched its direct-to-film service, marking the company’s first service-based offering.

Meanwhile, Chief Financial Officer Kimball Shill said first-quarter revenue totaled $159.5 million, down 2% from the same period last year. He added that the company generated $20.3 million in net income during the quarter, which represented 12.7% of total sales.

Cricut, Inc. (NASDAQ:CRCT) is a creative technology company that has built an ecosystem of connected cutting machines, accessories, and materials designed to work together seamlessly. The company uses that platform to introduce new products while continuing to update its existing physical and digital offerings.

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