Cimpress Gets a Hold Rating from SunTrust Robinson

In a report released today, Youssef Squali from SunTrust Robinson maintained a Hold rating on Cimpress (NASDAQ: CMPR), with a price target of $144. The company’s shares opened today at $135.34.

Squali noted:

“We find the stock fairly valued currently at ~14x CY18 EBITDA and ~24x CY18 FCF. CMPR WILL PRESENT AT OUR UPCOMING IDM CONFERENCE NEXT WEEK! Results vs estimates. Revenue was $636M, up 16% on a reported basis and 11% FXN, vs. our $624M. Top line out-performance came almost entirely from National Pen, which beat our expectations by ~$19M and Vistaprint (VBU) under performance was in large part due to Easter timing, in our view. Adjusted EBITDA was slightly lower, coming in at $67.8M vs. our $76.5M. Consensus estimates were $616M, $0.17 and $73M, for revenue, EPS and Adj. EBITDA, respectively. FCF for the quarter was ($3.0M) vs. ($21.3M) in F3Q17. Vistaprint unit (VBU) growth was modestly slower; segment margin improved. Vistaprint revenue was up 7.0% (FXN) vs. our expectation for 10% Y/Y and 9.0% in the prior qtr. Easter impacted the number of buying days this quarter, particularly in Europe.”

According to TipRanks.com, Squali is a top 100 analyst with an average return of 20.2% and a 70.8% success rate. Squali covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, Trade Desk Inc, and Alibaba Group.

Cimpress has an analyst consensus of Hold, with a price target consensus of $141.

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Based on Cimpress’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $762 million and quarterly net profit of $29.94 million. In comparison, last year the company earned revenue of $551 million and had a GAAP net loss of $42.93 million.

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Cimpress NV engages in the business of printing technology. Its activities include manufacture and sale customized orders of print, signage, apparel, and similar products. It operates through the Exaprint, pixartprinting, and vistaprint brands. The company was founded by Robert S. Keane in January 1995 and is headquartered in Venlo, the Netherlands.