Farfetch (FTCH) Issues Quarterly Earnings Results

Farfetch (NYSE:FTCH) released its quarterly earnings data on Wednesday. The company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.19), Morningstar.com reports. The business had revenue of $174.06 million for the quarter, compared to analyst estimates of $171.06 million. The firm’s revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.20) earnings per share.

Shares of FTCH stock traded down $2.41 during trading on Thursday, hitting $22.92. The company had a trading volume of 400,892 shares, compared to its average volume of 1,828,756. The stock has a market cap of $6.90 billion and a price-to-earnings ratio of -39.00. Farfetch has a 52 week low of $15.98 and a 52 week high of $32.40.

Several brokerages have recently weighed in on FTCH. Goldman Sachs Group upgraded Farfetch from a “neutral” rating to a “buy” rating in a research report on Friday, March 1st. Zacks Investment Research upgraded Farfetch from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. Credit Suisse Group upped their price target on Farfetch from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday. Oppenheimer began coverage on Farfetch in a research report on Monday, March 11th. They set an “outperform” rating and a $34.00 price target on the stock. Finally, Citigroup began coverage on Farfetch in a research report on Monday, March 11th. They set an “outperform” rating and a $34.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $28.20.

Several hedge funds have recently bought and sold shares of FTCH. Barclays PLC increased its position in shares of Farfetch by 163.6% in the fourth quarter. Barclays PLC now owns 5,800 shares of the company’s stock worth $103,000 after purchasing an additional 3,600 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in Farfetch during the fourth quarter valued at approximately $135,000. Pendal Group Ltd grew its position in Farfetch by 6.2% during the fourth quarter. Pendal Group Ltd now owns 11,004 shares of the company’s stock valued at $195,000 after acquiring an additional 639 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Farfetch during the fourth quarter valued at approximately $226,000. Finally, FNY Investment Advisers LLC bought a new position in Farfetch during the first quarter valued at approximately $228,000. Institutional investors own 42.67% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Farfetch (FTCH) Issues Quarterly Earnings Results” was reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.thelincolnianonline.com/2019/05/16/farfetch-ftch-issues-quarterly-earnings-results.html.

About Farfetch

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 in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.

See Also: Market Capitalization and Individual Investors

Receive News & Ratings for Farfetch Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Farfetch and related companies with MarketBeat.com's FREE daily email newsletter.