POSH Stock Forecast 2022: Poshmark Inc. (NASDAQ: POSH) Remains Strong With -108.96% Downside

In the latest trading session, 0.96 million Poshmark Inc. (NASDAQ:POSH) shares changed hands as the company’s beta touched 0. With the company’s most recent per share price at $10.05 changed hands at -$0.06 or -0.59% at last look, the market valuation stands at $818.81M. POSH’s current price is a discount, trading about -310.05% off its 52-week high of $41.21. The share price had its 52-week low at $8.97, which suggests the last value was 10.75% up since then. When we look at Poshmark Inc.’s average trading volume, we note the 10-day average is 0.72 million shares, with the 3-month average coming to 1.19 million.

Analysts gave the Poshmark Inc. (POSH) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.60. If we narrow down to specifics, the data shows that 0 out of 14 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 11 recommended POSH as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Poshmark Inc.’s EPS for the current quarter is expected to be -$0.27.

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Instantly POSH was in red as seen in intraday trades today. With action -6.22%, the performance over the past five days has been red. The drop to weekly highs of 11.45 on Tuesday, 07/26/22 subtracted -0.59% to the stock’s daily price. The company’s shares are showing year-to-date downside of -40.63%, with the 5-day performance at -6.22% in the red. However, in the 30-day time frame, Poshmark Inc. (NASDAQ:POSH) is -17.13% down. Looking at the short shares, we see there were 5.94 million shares sold at short interest cover period of 4.29 days.

The consensus price target for the stock as assigned by Wall Street analysts is $14.70, meaning bulls need an upside of 31.63% from its recent market value. According to analyst projections, POSH’s forecast low is $11.00 with $21.00 as the target high. To hit the forecast high, the stock’s price needs a -108.96% plunge from its current level, while the stock would need to soar -9.45% for it to hit the projected low.

Poshmark Inc. (POSH) estimates and forecasts

Data shows that the Poshmark Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -26.53% over the past 6 months, a 28.15% in annual growth rate that is considerably higher than the industry average of -6.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2022 revenue estimates. The rating firms predict current quarter revenue for Poshmark Inc. will fall -575.00%, while the growth in revenue is estimated to hit -188.90% for the next quarter. Year-over-year growth is forecast to reach 10.60% up from the last financial year.

Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of $87.44 million. 11 analysts are of the opinion that Poshmark Inc.’s revenue for the quarter ending Sep 2022 will be $88.33 million.

The 2022 estimates are for Poshmark Inc. earnings to decrease by -29.70%.

POSH Dividends

Poshmark Inc. is expected to release its next quarterly earnings report on August 11.

Poshmark Inc. (NASDAQ:POSH)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 2.16% of Poshmark Inc. shares while 109.88% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 112.31%. There are 109.88% institutions holding the Poshmark Inc. stock share, with Mayfield Xiii Management (ugp), Ltd., A Cayman Islands Exempted Co. the top institutional holder. As of Mar 30, 2022, the company held 29.42% of the shares, roughly 15.75 million POSH shares worth $157.8 million.

Temasek Holdings (Private) Limited holds the second largest percentage of outstanding shares, with 11.15% or 5.97 million shares worth $59.84 million as of Mar 30, 2022.

Among Mutual Funds, the top two as of Apr 29, 2022 were Northern Lights Fd Tr II-Invenomic Fd and Vanguard Total Stock Market Index Fund. With 1.77 million shares estimated at $17.78 million under it, the former controlled 3.31% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.05% of the shares, roughly 1.1 million shares worth around $11.02 million.