Farfetch (FTCH) Stock Price Down 8.6%

Farfetch Ltd (NYSE:FTCH) dropped 8.6% during mid-day trading on Friday . The company traded as low as $20.59 and last traded at $21.00. Approximately 959,519 shares changed hands during trading, a decline of 68% from the average daily volume of 2,956,483 shares. The stock had previously closed at $22.98.

FTCH has been the subject of a number of research analyst reports. Goldman Sachs Group initiated coverage on shares of Farfetch in a report on Tuesday. They set a “neutral” rating and a $24.00 price objective for the company. Deutsche Bank started coverage on shares of Farfetch in a report on Tuesday. They issued a “buy” rating and a $28.00 target price for the company. JPMorgan Chase & Co. started coverage on shares of Farfetch in a report on Tuesday. They issued an “overweight” rating and a $27.00 target price for the company. Cowen started coverage on shares of Farfetch in a report on Tuesday. They issued an “outperform” rating for the company. Finally, Credit Suisse Group started coverage on shares of Farfetch in a report on Tuesday. They issued an “outperform” rating and a $28.00 target price for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Farfetch has a consensus rating of “Buy” and an average target price of $27.40.

About Farfetch (NYSE:FTCH)

Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves on May 15, 2018 and is headquartered in London, the United Kingdom.

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