Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Vistaprint (Nasdaq: VPRT ) have dropped today by as much as 12% after an analyst downgraded the stock.
So what: Barclays cut its rating on Vistaprint from "equalweight" to "underweight," which is analogous to a "sell" recommendation. The firm also reduced its price target from $35 to $29, and shares have nearly fulfilled that prophecy today alone with the low trade of $29.06.
Now what: Analyst Mark May cited "intra-quarter data checks, recent exchange rate changes and valuation analysis" for concern that Vistaprint may miss the Street's estimates for fourth-quarter results and fiscal-2013 guidance. Barclays reduced its earnings estimate to a range of $1.72-$1.73 per share in 2012 and $1.79-$1.80 in 2013. The rest of the Street is perched on earnings per share of $1.78 this year and $2.05 next year.
Interested in more info on Vistaprint? Add it to your watchlist by clicking here.
RSS Headlines
Fool UK
Comments from our Foolish Readers
Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the
Report this Comment icon found on every comment.
Be the first one to comment on this article.