Brokerages Expect Farfetch Ltd (NYSE:FTCH) Will Announce Quarterly Sales of $567.72 Million

Equities analysts predict that Farfetch Ltd (NYSE:FTCH – Get Rating) will announce sales of $567.72 million for the current quarter, Zacks reports. Six analysts have provided estimates for Farfetch’s earnings, with the highest sales estimate coming in at $616.74 million and the lowest estimate coming in at $524.49 million. Farfetch posted sales of $485.08 million in the same quarter last year, which would indicate a positive year over year growth rate of 17%. The firm is scheduled to report its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Farfetch will report full-year sales of $2.80 billion for the current year, with estimates ranging from $2.66 billion to $2.97 billion. For the next year, analysts anticipate that the firm will report sales of $3.46 billion, with estimates ranging from $3.21 billion to $3.75 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Farfetch.

Farfetch (NYSE:FTCH – Get Rating) last posted its quarterly earnings results on Thursday, February 24th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.09. Farfetch had a negative return on equity of 331.09% and a net margin of 64.79%. The business had revenue of $665.65 million for the quarter, compared to analyst estimates of $673.31 million. During the same period in the prior year, the company posted ($6.53) EPS. The business’s revenue was up 23.2% compared to the same quarter last year.

A number of research analysts have recently commented on FTCH shares. Credit Suisse Group lowered their price objective on Farfetch from $47.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday. Zacks Investment Research upgraded Farfetch from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a report on Tuesday, May 17th. Oppenheimer reduced their target price on Farfetch from $32.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, April 1st. BTIG Research reduced their target price on Farfetch from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, April 11th. Finally, UBS Group reduced their target price on Farfetch from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. UBS analyst Kunal Madhukar lowered the price target on Farfetch (NYSE: FTCH) to $14.00 (from $19.00) while maintaining a Buy rating. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Farfetch has a consensus rating of “Buy” and a consensus target price of $34.59.

FTCH stock traded up $0.41 during trading hours on Tuesday, hitting $7.51. 1,694,564 shares of the stock traded hands, compared to its average volume of 9,934,273. Farfetch has a one year low of $6.53 and a one year high of $53.77. The company has a market cap of $2.86 billion, a P/E ratio of -7.02 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. The stock has a 50-day simple moving average of $12.20 and a 200 day simple moving average of $21.73.

A number of large investors have recently made changes to their positions in the business. Morgan Stanley grew its stake in Farfetch by 8.2% in the 2nd quarter. Morgan Stanley now owns 33,182,594 shares of the company’s stock valued at $1,671,075,000 after purchasing an additional 2,522,604 shares during the period. Baillie Gifford & Co. grew its holdings in Farfetch by 0.6% during the first quarter. Baillie Gifford & Co. now owns 30,590,531 shares of the company’s stock valued at $462,529,000 after purchasing an additional 189,935 shares during the period. Lone Pine Capital LLC grew its holdings in Farfetch by 6.5% during the fourth quarter. Lone Pine Capital LLC now owns 24,439,933 shares of the company’s stock valued at $817,027,000 after purchasing an additional 1,494,801 shares during the period. Invesco Ltd. grew its holdings in Farfetch by 5.8% during the fourth quarter. Invesco Ltd. now owns 20,763,328 shares of the company’s stock valued at $694,118,000 after purchasing an additional 1,136,669 shares during the period. Finally, Viking Global Investors LP bought a new position in Farfetch during the third quarter valued at $432,446,000. Hedge funds and other institutional investors own 81.36% of the company’s stock.

About Farfetch (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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