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Cimpress Management Bullish on Future Growth, Analysts Remain Positive

By Don Francis, Editor
September 16, 2023 1:01 PM UTC
Cimpress Management Bullish on Future Growth, Analysts Remain Positive

Truist Securities's Youssef Squali raised their price target on Cimpress (NASDAQ: CMPR) by 3.4% from $87 to $90 on September 15, 2023. The analyst maintained their Strong Buy rating on the stock.

Cimpress management expressed confidence in the company's future during its Analyst Day on September 14, 2023. Squali, the top-rated analyst, noted that the management sounded "very bullish" and affirmed Cimpress's 8% FY 2024 revenue growth guidance and $420 million in adjusted EBITDA. According to Squali, Cimpress has successfully completed its multi-year tech, branding, and product retooling efforts and is now focusing on laying the groundwork for greater product and marketing velocity that will drive consistent growth.

The analyst's positive outlook aligns with the sentiment among other top-rated analysts. Currently, 100% of the top-rated analysts rate CMPR as a Strong Buy or Buy. Notably, no analysts see it as a Hold, and nobody recommends selling the stock.

Looking at the stock's recent performance, CMPR has seen significant gains. Since its last quarterly report on June 30, 2023, the stock price has increased by 16%. On a year-over-year basis, the stock is up by an impressive 126.9%. During this period, CMPR has outpaced the broader market, with the S&P 500 recording a 14.1% increase.

Youssef Squali, the analyst who raised the price target, is ranked in the top 2% of Wall Street analysts by WallStreetZen. With an average return of 14% and a 56% win rate, Squali specializes in the Communication Services and Consumer Cyclical sectors, among others.

Cimpress plc, the company being analyzed, provides various mass customization of printing and related products globally. Operating through five segments, including Vistaprint and National Pen, Cimpress offers a wide range of marketing products, business cards, promotional items, design services, and more. The company serves various businesses, graphic designers, resellers, and printers, catering to both professional and personal printing needs. Cimpress was founded in 1994 and is headquartered in Dundalk, Ireland.

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