Farfetch (NYSE:FTCH) had its price target cut by Oppenheimer from $32.00 to $25.00 in a research report issued on Wednesday, The Fly reports. Oppenheimer’s price objective indicates a potential upside of 117.20% from the company’s current price.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Farfetch from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. KeyCorp began coverage on shares of Farfetch in a report on Wednesday, June 12th. They set an “overweight” rating and a $27.00 price target for the company. China Renaissance Securities reiterated a “hold” rating on shares of Farfetch in a report on Friday, August 9th. Credit Suisse Group set a $22.00 price target on shares of Farfetch and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Wells Fargo & Co set a $17.00 target price on shares of Farfetch and gave the company a “buy” rating in a report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $24.42.
Shares of Farfetch stock traded down $0.49 on Wednesday, reaching $11.51. The company had a trading volume of 7,648,244 shares, compared to its average volume of 2,714,120. The company has a current ratio of 4.57, a quick ratio of 4.22 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.04 billion and a price-to-earnings ratio of -19.51. The business has a 50 day simple moving average of $19.23. Farfetch has a 52-week low of $9.22 and a 52-week high of $32.40.
Farfetch (NYSE:FTCH) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.09). The business had revenue of $209.30 million during the quarter, compared to analyst estimates of $196.51 million. Farfetch had a negative net margin of 40.23% and a negative return on equity of 25.09%. The business’s quarterly revenue was up 42.7% compared to the same quarter last year. Analysts anticipate that Farfetch will post -0.89 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its position in Farfetch by 0.6% during the fourth quarter. Northern Trust Corp now owns 110,022 shares of the company’s stock worth $1,948,000 after acquiring an additional 653 shares during the last quarter. Legal & General Group Plc purchased a new position in Farfetch during the fourth quarter worth about $1,680,000. Norges Bank purchased a new position in Farfetch during the fourth quarter worth about $22,138,000. FNY Investment Advisers LLC purchased a new position in Farfetch during the first quarter worth about $228,000. Finally, Pier Capital LLC purchased a new position in Farfetch during the first quarter worth about $494,000. Hedge funds and other institutional investors own 50.06% of the company’s stock.
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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