Farfetch Ltd (FTCH) Receives Average Recommendation of “Buy” from Analysts

Shares of Farfetch Ltd (NYSE:FTCH) have earned an average recommendation of “Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $27.00.

A number of analysts recently commented on the stock. Cowen reissued a “buy” rating and set a $28.00 price objective on shares of Farfetch in a report on Friday. UBS Group assumed coverage on shares of Farfetch in a report on Tuesday, October 16th. They set a “buy” rating on the stock. Goldman Sachs Group assumed coverage on shares of Farfetch in a report on Tuesday, October 16th. They set a “neutral” rating and a $24.00 price objective on the stock. Wells Fargo & Co assumed coverage on shares of Farfetch in a report on Tuesday, October 16th. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, Deutsche Bank assumed coverage on shares of Farfetch in a report on Tuesday, October 16th. They set a “buy” rating and a $28.00 price objective on the stock.

Several hedge funds and other institutional investors have recently made changes to their positions in FTCH. Jennison Associates LLC purchased a new stake in shares of Farfetch in the third quarter valued at about $123,826,000. FMR LLC purchased a new stake in shares of Farfetch in the third quarter valued at about $99,189,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Farfetch in the third quarter valued at about $67,105,000. BlackRock Inc. purchased a new stake in shares of Farfetch in the third quarter valued at about $42,733,000. Finally, Winslow Capital Management LLC purchased a new stake in shares of Farfetch in the third quarter valued at about $37,907,000. 0.10% of the stock is currently owned by institutional investors.

FTCH stock opened at $23.27 on Friday. Farfetch has a 52 week low of $18.39 and a 52 week high of $32.40.

Farfetch (NYSE:FTCH) last released its quarterly earnings data on Thursday, November 8th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). The company had revenue of $132.18 million for the quarter, compared to analysts’ expectations of $114.49 million. The company’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.12) earnings per share. As a group, research analysts expect that Farfetch will post -0.57 earnings per share for the current year.

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 on May 15, 2018 and is headquartered in London, the United Kingdom.

Further Reading: How Do You Make Money With Penny Stocks?

Analyst Recommendations for Farfetch (NYSE:FTCH)

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.

Leave a Reply