Farfetch (NYSE:FTCH – Get Valuation) saw its price target lowered by Credit Suisse Group research analysts from $47.00 to $36.00 in a research note released on Wednesday, reports The Fly. Credit Suisse Group’s price target would indicate a potential upside of 428.63% from the company’s current price.
A number of other equity research analysts have also recently commented on the company. Zacks Investment Research upgraded Farfetch from a “hold” rating to a “buy” rating and set a target price of $9.50 for the company in a Tuesday, May 17 report. BTIG Research lowered its price target on Farfetch shares from $34.00 to $26.00 in a Monday, April 11 report. Oppenheimer cut his price target on Farfetch from $32.00 to $26.00 and set an “outperform” rating on the stock in a Friday, April 1 research report. Jefferies Financial Group launched coverage on Farfetch in a Thursday, March 17 report. They issued a “buy” rating and a price target of $25.00 for the company. Finally, Societe Generale upgraded Farfetch from a “hold” rating to a “buy” rating and set a target price of $22.00 on the stock in a Friday, March 25 report. They noted that the move was a review call. Two research analysts gave the stock a hold rating and thirteen gave the company’s stock a buy rating. According to data from MarketBeat.com, Farfetch currently has an average rating of “Buy” and a consensus price target of $35.97.
FTCH opened at $6.81 on Wednesday. The company has a market capitalization of $2.59 billion, a P/E ratio of -6.36 and a beta of 3.13. The company has a quick ratio of 2.05, a current ratio of 2.33 and a debt ratio of 1.91. The company’s 50-day moving average price is $12.33 and its 200-day moving average price is $21.83. Farfetch has a 52-week low of $6.53 and a 52-week high of $53.77.
Farfetch (NYSE:FTCH – Get Rating) last released its quarterly results on Thursday, February 24. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.32) by $0.09. The company posted revenue of $665.65 million for the quarter, versus analyst estimates of $673.31 million. Farfetch had a net margin of 64.79% and a negative return on equity of 331.09%. Farfetch’s revenue for the quarter increased 23.2% compared to the same quarter last year. In the same quarter of the previous year, the company recorded EPS of ($6.53). On average, research analysts expect Farfetch to post -1.23 EPS for the current fiscal year.
Hedge funds have recently been buying and selling shares of the stock. Morgan Stanley increased its position in Farfetch shares by 8.2% in the second quarter. Morgan Stanley now owns 33,182,594 shares of the company valued at $1,671,075,000 after purchasing an additional 2,522,604 shares in the last quarter. Baillie Gifford & Co. increased its stake in Farfetch shares by 0.6% in the first quarter. Baillie Gifford & Co. now owns 30,590,531 shares of the company valued at $462,529,000 after purchasing an additional 189,935 shares in the last quarter. Lone Pine Capital LLC increased its position in Farfetch by 6.5% during the fourth quarter. Lone Pine Capital LLC now owns 24,439,933 shares of the company worth $817,027,000 after purchasing an additional 1,494,801 shares last quarter. Invesco Ltd. increased its stake in Farfetch by 5.8% in the fourth quarter. Invesco Ltd. now owns 20,763,328 shares of the company valued at $694,118,000 after acquiring an additional 1,136,669 shares in the last quarter. Finally, Viking Global Investors LP bought a new position in Farfetch stock during Q3 worth $432,446,000. Institutional investors hold 81.36% of the company’s shares.
Farfetch Company Profile (Get a rating)
Farfetch Ltd. is engaged in the retail sale of fashion and luxury items. It offers clothing for women, men, children, vintage, fine watches and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and launched in 2008 and is based in London, UK.
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