Shares of Farfetch Ltd (NYSE:FTCH – Get Rating) have been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are currently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $19.31.
Several research firms have commented on FTCH. Cowen boosted their target price on Farfetch from $9.00 to $11.00 and gave the stock a “market perform” rating in a report on Tuesday, August 30th. JPMorgan Chase & Co. dropped their target price on Farfetch from $20.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, June 29th. UBS Group downgraded Farfetch from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $13.00 to $10.00 in a report on Tuesday, June 28th. Morgan Stanley upped their price target on Farfetch from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, August 26th. Finally, KeyCorp upped their price target on Farfetch from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, August 26th.
Institutional Trading of Farfetch
Hedge funds and other institutional investors have recently bought and sold shares of the stock. abrdn plc increased its position in Farfetch by 12.7% in the fourth quarter. abrdn plc now owns 21,631 shares of the company’s stock worth $724,000 after buying an additional 2,443 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Farfetch by 23.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 23,879 shares of the company’s stock worth $798,000 after purchasing an additional 4,554 shares in the last quarter. Boston Financial Mangement LLC grew its position in shares of Farfetch by 495.2% during the first quarter. Boston Financial Mangement LLC now owns 878,958 shares of the company’s stock worth $13,290,000 after purchasing an additional 731,289 shares in the last quarter. Cinctive Capital Management LP purchased a new stake in shares of Farfetch during the fourth quarter worth about $1,127,000. Finally, SG Americas Securities LLC grew its position in shares of Farfetch by 184.7% during the first quarter. SG Americas Securities LLC now owns 45,857 shares of the company’s stock worth $693,000 after purchasing an additional 29,749 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.
Farfetch Trading Up 6.0 %
Farfetch (NYSE:FTCH – Get Rating) last released its earnings results on Thursday, August 25th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.05. Farfetch had a return on equity of 245.67% and a net margin of 71.25%. The business had revenue of $579.35 million for the quarter, compared to the consensus estimate of $566.53 million. During the same period in the previous year, the company posted ($0.31) earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts forecast that Farfetch will post -1.16 earnings per share for the current fiscal year.
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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