Farfetch (NYSE:FTCH – Get Rating) had its price objective cut by analysts at BTIG Research from $34.00 to $26.00 in a research report issued on Monday, April 11th, The Fly reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 246.21% from the company’s previous close.
Several other research firms have also recently weighed in on FTCH. JPMorgan Chase & Co. cut their price objective on Farfetch from $35.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 16th. Zacks Investment Research cut Farfetch from a “buy” rating to a “hold” rating in a research report on Thursday, February 24th. KeyCorp cut their price objective on Farfetch from $60.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, January 20th. Jefferies Financial Group assumed coverage on Farfetch in a research report on Thursday, March 17th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, Credit Suisse Group cut their price objective on Farfetch from $71.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 22nd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Farfetch presently has an average rating of “Buy” and a consensus price target of $35.97.
Shares of NYSE:FTCH traded up $0.41 during mid-day trading on Monday, hitting $7.51. 1,694,564 shares of the company traded hands, compared to its average volume of 9,934,273. The stock has a market cap of $2.86 billion, a P/E ratio of -7.05 and a beta of 3.13. The company has a current ratio of 2.33, a quick ratio of 2.05 and a debt-to-equity ratio of 1.91. Farfetch has a 12-month low of $6.53 and a 12-month high of $53.77. The stock has a 50-day moving average price of $12.20 and a two-hundred day moving average price of $21.73.
Large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC bought a new stake in shares of Farfetch during the 4th quarter valued at $31,000. Dark Forest Capital Management LP bought a new stake in shares of Farfetch during the 3rd quarter valued at $42,000. Sterling Investment Advisors Ltd. raised its stake in shares of Farfetch by 40.0% during the 3rd quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $52,000 after purchasing an additional 400 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of Farfetch by 51.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,515 shares of the company’s stock valued at $56,000 after purchasing an additional 515 shares during the period. Finally, Bessemer Group Inc. grew its position in Farfetch by 1,736.4% during the fourth quarter. Bessemer Group Inc. now owns 3,030 shares of the company’s stock worth $101,000 after buying an additional 2,865 shares in the last quarter. Institutional investors own 81.36% of the company’s stock.
Farfetch Company Profile (Get Rating)
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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