MYT Netherlands Parent B.V. (NYSE:MYTE) Price Target Raised to $42.00 at Morgan Stanley

MYT Netherlands Parent B.V. (NYSE:MYTE) had its price target raised by investment analysts at Morgan Stanley from $40.00 to $42.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 57.07% from the company’s previous close.

A number of other equities analysts also recently commented on MYTE. JPMorgan Chase & Co. lifted their price objective on shares of MYT Netherlands Parent B.V. from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Monday, May 24th. Credit Suisse Group upped their target price on MYT Netherlands Parent B.V. from $35.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Zacks Investment Research downgraded MYT Netherlands Parent B.V. from a “hold” rating to a “sell” rating in a report on Friday, September 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $38.71.

Shares of MYTE traded up $0.47 during mid-day trading on Wednesday, hitting $26.74. The stock had a trading volume of 1,601 shares, compared to its average volume of 313,029. MYT Netherlands Parent B.V. has a fifty-two week low of $24.94 and a fifty-two week high of $36.25. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.65 and a quick ratio of 0.92. The company’s fifty day simple moving average is $29.43 and its two-hundred day simple moving average is $29.57.

A number of institutional investors have recently bought and sold shares of MYTE. Morgan Stanley increased its stake in MYT Netherlands Parent B.V. by 24.1% in the 2nd quarter. Morgan Stanley now owns 18,791 shares of the company’s stock worth $572,000 after purchasing an additional 3,649 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of MYT Netherlands Parent B.V. by 26.5% in the 2nd quarter. Wells Fargo & Company MN now owns 211,950 shares of the company’s stock valued at $6,450,000 after acquiring an additional 44,451 shares in the last quarter. Invesco Ltd. boosted its stake in MYT Netherlands Parent B.V. by 7.4% in the 2nd quarter. Invesco Ltd. now owns 991,029 shares of the company’s stock worth $30,157,000 after purchasing an additional 68,195 shares during the period. Sylebra Capital Ltd grew its position in MYT Netherlands Parent B.V. by 337.8% during the 2nd quarter. Sylebra Capital Ltd now owns 3,016,434 shares of the company’s stock worth $91,790,000 after purchasing an additional 2,327,417 shares in the last quarter. Finally, Marathon Asset Management LP acquired a new stake in shares of MYT Netherlands Parent B.V. in the second quarter worth $2,276,000. Hedge funds and other institutional investors own 21.63% of the company’s stock.

MYT Netherlands Parent B.V. Company Profile

MYT Netherlands Parent B.V., through its subsidiary, Mytheresa Group GmbH, operates a luxury e-commerce platform for the fashion consumers worldwide. The company sells clothes, bags, shoes, accessories, and fine jewelry through online operations and retail stores. It serves high income luxury consumers.

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Analyst Recommendations for MYT Netherlands Parent B.V. (NYSE:MYTE)

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