Farfetch Ltd (NYSE:FTCH) has been assigned an average recommendation of “Buy” from the fifteen research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $20.95.
FTCH has been the topic of a number of recent research reports. UBS Group reduced their price objective on shares of Farfetch from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. KeyCorp reduced their price target on shares of Farfetch from $27.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Goldman Sachs Group reissued a “buy” rating and set a $21.40 price target (down from $37.00) on shares of Farfetch in a research report on Monday, November 4th. Cowen reduced their price target on shares of Farfetch from $33.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Oppenheimer reduced their price target on shares of Farfetch from $32.00 to $25.00 in a research report on Wednesday, August 14th.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. acquired a new stake in shares of Farfetch during the second quarter worth $9,616,000. BlackRock Inc. raised its holdings in shares of Farfetch by 39.2% during the second quarter. BlackRock Inc. now owns 1,570,536 shares of the company’s stock worth $32,667,000 after acquiring an additional 442,430 shares during the period. Waddell & Reed Financial Inc. raised its holdings in shares of Farfetch by 34.1% during the second quarter. Waddell & Reed Financial Inc. now owns 1,013,031 shares of the company’s stock worth $21,071,000 after acquiring an additional 257,874 shares during the period. Invesco Ltd. acquired a new stake in shares of Farfetch during the second quarter worth $128,360,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Farfetch by 71.3% during the second quarter. Wells Fargo & Company MN now owns 2,215,032 shares of the company’s stock worth $46,073,000 after acquiring an additional 922,124 shares during the period. 65.61% of the stock is currently owned by institutional investors.
Shares of FTCH stock opened at $9.68 on Wednesday. Farfetch has a 52-week low of $7.43 and a 52-week high of $31.60. The stock has a market cap of $2.82 billion, a PE ratio of -16.41 and a beta of 2.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.33 and a current ratio of 1.63. The firm’s 50 day moving average price is $8.49 and its two-hundred day moving average price is $14.93.
Farfetch (NYSE:FTCH) last announced its quarterly earnings data on Thursday, November 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.09. Farfetch had a negative net margin of 35.84% and a negative return on equity of 25.14%. The firm had revenue of $255.50 million for the quarter, compared to analysts’ expectations of $248.31 million. During the same period last year, the firm earned ($0.30) earnings per share. The business’s revenue for the quarter was up 93.3% on a year-over-year basis. As a group, sell-side analysts predict that Farfetch will post -1.14 earnings per share for the current fiscal year.
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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