Zacks: Analysts Expect Stitch Fix, Inc. (NASDAQ:SFIX) Will Post Quarterly Sales of $511.40 Million


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Brokerages forecast that Stitch Fix, Inc. (NASDAQ:SFIX) will announce sales of $511.40 million for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Stitch Fix’s earnings, with estimates ranging from $509.30 million to $515.00 million. Stitch Fix reported sales of $371.73 million in the same quarter last year, which indicates a positive year-over-year growth rate of 37.6%. The firm is scheduled to announce its next quarterly earnings report on Monday, June 14th.

According to Zacks, analysts expect that Stitch Fix will report full year sales of $2.04 billion for the current financial year, with estimates ranging from $2.03 billion to $2.05 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.43 billion, with estimates ranging from $2.31 billion to $2.54 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Stitch Fix.

Stitch Fix (NASDAQ:SFIX) last issued its earnings results on Sunday, March 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.02. Stitch Fix had a negative net margin of 3.27% and a negative return on equity of 13.58%. The company had revenue of $504.10 million during the quarter, compared to analysts’ expectations of $512.17 million. During the same period last year, the company posted $0.11 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year.

A number of brokerages have issued reports on SFIX. Canaccord Genuity dropped their target price on shares of Stitch Fix from $72.00 to $68.00 and set a “buy” rating for the company in a report on Monday, March 15th. Truist increased their price target on shares of Stitch Fix from $52.00 to $60.00 in a research report on Tuesday, March 9th. Stifel Nicolaus lowered shares of Stitch Fix from a “buy” rating to a “hold” rating and increased their price target for the company from $64.00 to $83.00 in a research report on Monday, February 1st. Needham & Company LLC increased their price target on shares of Stitch Fix from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, March 15th. Finally, Piper Sandler increased their price target on shares of Stitch Fix from $38.00 to $47.00 in a research report on Tuesday, March 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $74.61.

In other news, Director Mike C. Smith sold 40,000 shares of the firm’s stock in a transaction on Friday, January 15th. The shares were sold at an average price of $74.39, for a total value of $2,975,600.00. Following the transaction, the director now owns 87,356 shares of the company’s stock, valued at approximately $6,498,412.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Katrina Lake sold 136,366 shares of the firm’s stock in a transaction on Friday, March 19th. The shares were sold at an average price of $53.19, for a total transaction of $7,253,307.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 331,869 shares of company stock worth $20,693,730. 45.10% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. California State Teachers Retirement System raised its stake in shares of Stitch Fix by 0.4% in the 3rd quarter. California State Teachers Retirement System now owns 85,152 shares of the company’s stock valued at $2,310,000 after acquiring an additional 381 shares during the period. Aperio Group LLC raised its stake in shares of Stitch Fix by 4.1% in the 4th quarter. Aperio Group LLC now owns 13,676 shares of the company’s stock valued at $803,000 after acquiring an additional 536 shares during the period. GoalVest Advisory LLC purchased a new position in shares of Stitch Fix in the 4th quarter valued at $37,000. Amalgamated Bank raised its stake in shares of Stitch Fix by 7.7% in the 4th quarter. Amalgamated Bank now owns 8,776 shares of the company’s stock valued at $515,000 after acquiring an additional 630 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in Stitch Fix by 36.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,450 shares of the company’s stock worth $144,000 after buying an additional 650 shares during the period. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Shares of Stitch Fix stock opened at $51.07 on Thursday. Stitch Fix has a 12-month low of $13.20 and a 12-month high of $113.76. The stock has a market cap of $5.43 billion, a PE ratio of -89.60 and a beta of 2.46. The company has a 50-day moving average of $61.22 and a two-hundred day moving average of $54.64.

About Stitch Fix

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile application in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc.

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Earnings History and Estimates for Stitch Fix (NASDAQ:SFIX)

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