Care.com, Inc. (CRCM) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Care.com, Inc. (NYSE:CRCM) from a buy rating to a hold rating in a research note published on Friday, July 21st.

According to Zacks, “Care.com, Inc. provides online marketplace for finding and managing family care primarily in the United States and internationally. Its platform provides care needs which consists of child care, senior care and special needs care as well as other non-medical family care needs such as pet care, tutoring and housekeeping and helps caregivers find employment opportunities. Care.com, Inc. is based in Waltham, Massachusetts. “

CRCM has been the subject of several other reports. Roth Capital set a $14.00 target price on Care.com and gave the company a hold rating in a report on Monday, June 12th. BidaskClub cut Care.com from a hold rating to a sell rating in a report on Thursday, July 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $15.00.

Care.com (NYSE:CRCM) opened at 15.63 on Friday. Care.com has a 1-year low of $7.51 and a 1-year high of $16.50. The company has a 50 day moving average price of $14.89 and a 200-day moving average price of $13.07. The firm has a market capitalization of $464.77 million, a price-to-earnings ratio of 651.25 and a beta of 0.93.

Care.com (NYSE:CRCM) last issued its earnings results on Thursday, August 10th. The information services provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.15. The company had revenue of $42 million during the quarter, compared to analysts’ expectations of $41.34 million. Care.com had a return on equity of 10.98% and a net margin of 3.66%. Care.com’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) EPS. On average, analysts forecast that Care.com will post $0.40 EPS for the current fiscal year.

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In other Care.com news, CFO Michael Echenberg sold 6,547 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $14.38, for a total value of $94,145.86. Following the completion of the sale, the chief financial officer now owns 22,438 shares in the company, valued at approximately $322,658.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Diane Musi sold 9,990 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $15.48, for a total value of $154,645.20. Following the completion of the sale, the general counsel now owns 34,450 shares of the company’s stock, valued at approximately $533,286. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,095 shares of company stock valued at $651,424. Company insiders own 24.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRCM. The Manufacturers Life Insurance Company boosted its position in Care.com by 47.6% in the second quarter. The Manufacturers Life Insurance Company now owns 11,801 shares of the information services provider’s stock worth $179,000 after buying an additional 3,805 shares during the last quarter. State Street Corp boosted its position in Care.com by 5.5% in the second quarter. State Street Corp now owns 298,023 shares of the information services provider’s stock worth $4,504,000 after buying an additional 15,490 shares during the last quarter. Cornerstone Capital Management Holdings LLC. boosted its position in Care.com by 51.5% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 58,824 shares of the information services provider’s stock worth $887,000 after buying an additional 20,000 shares during the last quarter. Janus Henderson Group PLC purchased a new position in Care.com during the second quarter worth approximately $7,371,000. Finally, Fred Alger Management Inc. purchased a new position in Care.com during the second quarter worth approximately $455,000. Institutional investors own 70.39% of the company’s stock.

Care.com Company Profile

Care.com, Inc is an online marketplace for finding and managing family care. As of December 31, 2016, the Company had 22.8 million members, including 12.9 million families and 9.9 million caregivers, spanning 19 countries. Its consumer matching solutions allow families to search for, qualify, vet, connect with and select caregivers.

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