Morgan Stanley Reaffirms Equal Weight Rating for MYT Netherlands Parent B.V. (NYSE:MYTE)

MYT Netherlands Parent B.V. (NYSE:MYTEGet Rating)‘s stock had its “equal weight” rating restated by research analysts at Morgan Stanley in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They presently have a $14.00 price target on the stock, down from their prior price target of $39.00. Morgan Stanley’s price target points to a potential upside of 11.11% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of MYT Netherlands Parent B.V. from a “buy” rating to a “hold” rating in a report on Thursday, February 24th. Credit Suisse Group lowered their price objective on MYT Netherlands Parent B.V. from $27.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, March 16th. UBS Group raised MYT Netherlands Parent B.V. from a “neutral” rating to a “buy” rating and reduced their target price for the company from $30.00 to $19.00 in a report on Thursday, March 24th. Societe Generale raised MYT Netherlands Parent B.V. from a “hold” rating to a “buy” rating and lowered their price target for the stock from $29.00 to $25.00 in a research note on Monday, January 17th. Finally, JPMorgan Chase & Co. cut their price objective on shares of MYT Netherlands Parent B.V. from $34.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, March 18th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, MYT Netherlands Parent B.V. presently has a consensus rating of “Buy” and an average price target of $22.00.

NYSE:MYTE opened at $12.60 on Tuesday. The firm has a market capitalization of $1.06 billion, a P/E ratio of -13.70 and a beta of 0.68. MYT Netherlands Parent B.V. has a 1-year low of $10.74 and a 1-year high of $32.71. The company’s fifty day moving average price is $13.03 and its 200-day moving average price is $20.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.83 and a quick ratio of 1.03.

MYT Netherlands Parent B.V. (NYSE:MYTEGet Rating) last announced its quarterly earnings results on Wednesday, February 16th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.03). MYT Netherlands Parent B.V. had a negative return on equity of 0.72% and a negative net margin of 9.57%. The firm had revenue of $214.52 million for the quarter, compared to analysts’ expectations of $263.82 million. During the same period last year, the company posted $0.24 earnings per share. Equities analysts anticipate that MYT Netherlands Parent B.V. will post 0.5 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its stake in MYT Netherlands Parent B.V. by 24.1% during the second quarter. Morgan Stanley now owns 18,791 shares of the company’s stock worth $572,000 after buying an additional 3,649 shares during the period. LPL Financial LLC boosted its stake in shares of MYT Netherlands Parent B.V. by 58.2% in the third quarter. LPL Financial LLC now owns 10,967 shares of the company’s stock valued at $295,000 after purchasing an additional 4,033 shares during the period. Edmond DE Rothschild Holding S.A. boosted its stake in shares of MYT Netherlands Parent B.V. by 27.9% in the third quarter. Edmond DE Rothschild Holding S.A. now owns 21,780 shares of the company’s stock valued at $586,000 after purchasing an additional 4,750 shares during the period. Millennium Management LLC boosted its stake in shares of MYT Netherlands Parent B.V. by 34.4% in the fourth quarter. Millennium Management LLC now owns 18,637 shares of the company’s stock valued at $395,000 after purchasing an additional 4,769 shares during the period. Finally, Advisor Group Holdings Inc. boosted its stake in shares of MYT Netherlands Parent B.V. by 65.1% in the third quarter. Advisor Group Holdings Inc. now owns 14,515 shares of the company’s stock valued at $391,000 after purchasing an additional 5,724 shares during the period. 23.62% of the stock is owned by institutional investors.

About MYT Netherlands Parent B.V. (Get Rating)

MYT Netherlands Parent B.V., through its subsidiary, Mytheresa Group GmbH, operates a luxury e-commerce platform for fashion consumers in Germany, the United States, the rest of Europe, and internationally. The company sells clothes, bags, shoes, accessories, and fine jewelry through online and retail stores.

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