Farfetch Ltd (NYSE:FTCH) has been given an average rating of “Buy” by the sixteen analysts that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $24.60.
Several research firms recently commented on FTCH. Zacks Investment Research upgraded Farfetch from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. KeyCorp began coverage on Farfetch in a research report on Wednesday, June 12th. They set an “overweight” rating and a $27.00 target price for the company. Credit Suisse Group set a $22.00 target price on Farfetch and gave the stock a “buy” rating in a research report on Friday, August 9th. China Renaissance Securities reaffirmed a “hold” rating on shares of Farfetch in a research note on Friday, August 9th. Finally, Oppenheimer dropped their price target on Farfetch from $32.00 to $25.00 in a research note on Wednesday, August 14th.
Farfetch stock traded down $0.42 during midday trading on Monday, hitting $10.83. 4,715,552 shares of the company’s stock were exchanged, compared to its average volume of 2,748,362. Farfetch has a 52-week low of $9.22 and a 52-week high of $32.40. The stock has a 50-day moving average price of $18.27 and a two-hundred day moving average price of $22.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.22 and a current ratio of 3.19. The company has a market cap of $3.37 billion and a P/E ratio of -18.36.
Farfetch (NYSE:FTCH) last posted its earnings results on Thursday, August 8th. The company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.09). Farfetch had a negative return on equity of 25.53% and a negative net margin of 40.23%. The business had revenue of $209.30 million for the quarter, compared to analysts’ expectations of $196.51 million. The business’s revenue for the quarter was up 42.7% compared to the same quarter last year. As a group, sell-side analysts expect that Farfetch will post -1.08 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTCH. Morgan Stanley lifted its stake in shares of Farfetch by 139.8% in the 2nd quarter. Morgan Stanley now owns 32,155,141 shares of the company’s stock valued at $668,828,000 after acquiring an additional 18,744,626 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Farfetch by 47.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 24,656,061 shares of the company’s stock valued at $512,846,000 after purchasing an additional 7,886,096 shares during the last quarter. Invesco Ltd. bought a new position in Farfetch during the 2nd quarter valued at approximately $128,360,000. Nuveen Asset Management LLC bought a new position in Farfetch during the 2nd quarter valued at approximately $94,234,000. Finally, Cadian Capital Management LP raised its position in Farfetch by 127.3% during the 2nd quarter. Cadian Capital Management LP now owns 2,500,000 shares of the company’s stock valued at $52,000,000 after purchasing an additional 1,400,000 shares during the last quarter. 49.77% of the stock is owned by institutional investors.
Farfetch Company Profile
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.
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