Morgan Stanley Cuts Stitch Fix (NASDAQ:SFIX) Price Target to $5.00

Stitch Fix (NASDAQ:SFIXGet Rating) had its price target dropped by research analysts at Morgan Stanley from $9.00 to $5.00 in a report released on Friday, The Fly reports. Morgan Stanley’s price objective suggests a potential downside of 35.73% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Truist Financial downgraded shares of Stitch Fix from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $40.00 to $12.00 in a research report on Wednesday, March 9th. JPMorgan Chase & Co. decreased their target price on shares of Stitch Fix from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday. Wedbush decreased their target price on shares of Stitch Fix from $21.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, March 9th. Sanford C. Bernstein started coverage on shares of Stitch Fix in a research report on Tuesday, March 15th. They issued a “market perform” rating and a $11.00 target price for the company. Finally, Telsey Advisory Group downgraded shares of Stitch Fix from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $25.00 to $14.00 in a research report on Wednesday, March 9th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.38.

Shares of SFIX stock opened at $7.78 on Friday. The firm has a fifty day moving average of $9.07 and a 200-day moving average of $13.70. Stitch Fix has a 12-month low of $6.71 and a 12-month high of $64.52. The company has a market capitalization of $846.46 million, a price-to-earnings ratio of -26.83 and a beta of 1.74.

Stitch Fix (NASDAQ:SFIXGet Rating) last issued its quarterly earnings data on Thursday, June 9th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.15). Stitch Fix had a negative return on equity of 6.58% and a negative net margin of 1.37%. The company had revenue of $492.90 million for the quarter, compared to the consensus estimate of $493.71 million. During the same period in the prior year, the company earned ($0.18) EPS. The firm’s revenue was down 8.0% on a year-over-year basis. As a group, sell-side analysts predict that Stitch Fix will post -1.38 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of SFIX. First Trust Advisors LP lifted its stake in shares of Stitch Fix by 25.4% during the 1st quarter. First Trust Advisors LP now owns 104,279 shares of the company’s stock worth $2,944,000 after buying an additional 21,153 shares during the last quarter. Geode Capital Management LLC raised its stake in Stitch Fix by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,104,094 shares of the company’s stock worth $44,108,000 after purchasing an additional 21,328 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Stitch Fix in the 3rd quarter worth about $607,000. Renaissance Technologies LLC acquired a new stake in Stitch Fix in the 3rd quarter worth about $13,952,000. Finally, Franklin Resources Inc. raised its stake in Stitch Fix by 20.0% in the 3rd quarter. Franklin Resources Inc. now owns 6,143 shares of the company’s stock worth $246,000 after purchasing an additional 1,024 shares in the last quarter. Institutional investors own 70.50% of the company’s stock.

Stitch Fix Company Profile (Get Rating)

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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