Farfetch (FTCH) Releases Quarterly Earnings Results, Misses Estimates By $0.19 EPS

Farfetch (NYSE:FTCH) posted its quarterly earnings data on Wednesday. The company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.19), Morningstar.com reports. The company had revenue of $174.06 million for the quarter, compared to analyst estimates of $171.06 million. Farfetch’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.20) EPS.

FTCH stock traded down $2.52 during midday trading on Thursday, hitting $22.81. 362,632 shares of the company’s stock were exchanged, compared to its average volume of 1,828,756. The stock has a market cap of $6.90 billion and a price-to-earnings ratio of -39.00. Farfetch has a 1-year low of $15.98 and a 1-year high of $32.40.

A number of analysts have recently issued reports on the stock. Goldman Sachs Group upgraded shares of Farfetch from a “neutral” rating to a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research upgraded shares of Farfetch from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. Credit Suisse Group lifted their target price on shares of Farfetch from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday. Oppenheimer assumed coverage on shares of Farfetch in a research report on Monday, March 11th. They issued an “outperform” rating and a $34.00 price target on the stock. Finally, Citigroup assumed coverage on shares of Farfetch in a research report on Monday, March 11th. They issued an “outperform” rating and a $34.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. Farfetch presently has an average rating of “Buy” and a consensus target price of $28.20.

Hedge funds have recently bought and sold shares of the business. Barclays PLC grew its stake in shares of Farfetch by 163.6% in the fourth quarter. Barclays PLC now owns 5,800 shares of the company’s stock valued at $103,000 after buying an additional 3,600 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new position in Farfetch during the 4th quarter worth $135,000. FNY Investment Advisers LLC acquired a new position in Farfetch during the 1st quarter worth $228,000. Shikiar Asset Management Inc. acquired a new position in Farfetch during the 1st quarter worth $242,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Farfetch during the 1st quarter worth $255,000. 42.67% of the stock is owned by institutional investors.

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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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