Trimmed Holiday Forecast Sends Poshmark Stock to Record Lows

Several analysts slashed their price targets

Digital Content Manager
Nov 10, 2021 at 9:22 AM
facebook X logo linkedin

Clothing resale concern Poshmark Inc (NASDAQ:POSH) is down 31.2% at $16.92 in pre-market trading, and looking to open at its lowest level since since the stock went public in January. The company released its third-quarter results after the close last night, posting a wider-than-expected loss of $0.09 on $79.65 million in revenue, which also fell below analysts' expectations. The online marketplace company also lowered its holiday-quarter forecast, due to complications stemming from Apple's (AAPL) recent privacy policy changes. Several of Poshmark's direct competitors, including ThredUp (TDUP) and RealReal (REAL) have walked away from the earnings confessional with upbeat results, only adding insult to injury. 

The stock is now trading at more than half its initial public offering (IPO) price of $42, and at almost a third of its all-time closing high of $101.50, which POSH hit on its first day of trading, Jan. 14. Needless to say, Poshmark stock has folded since then, with its most convincing rally attempt running out of steam near the $50 level in early June, and the 100-day moving average guiding the equity even lower. Meanwhile the $23 level was holding as a floor, prior to today's plummet. 

Poshmark is no stranger to post-earnings bear notes, and this time around, even more analysts are chiming in. No less than four analysts have cut their price targets, the lowest coming from MKM Partners to $21 from $50. The majority of the brokerage bunch is still optimistic, though. Of the 11 in coverage, eight say "buy" or better, while three say "hold." Plus, the 12-month consensus price target of $34 is double Poshmark stock's current levels. 

The options pits have also been bullish. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), 1.55 long calls have been picked up for every put during the past two weeks. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI