Stitch Fix (NASDAQ:SFIX – Get Rating) will be announcing its earnings results after the market closes on Tuesday, September 20th. Analysts expect the company to announce earnings of ($0.60) per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.
Stitch Fix Stock Performance
Shares of Stitch Fix stock opened at $5.65 on Tuesday. The company has a fifty day moving average of $6.02 and a 200 day moving average of $7.93. The company has a market capitalization of $611.17 million, a P/E ratio of -6.81 and a beta of 1.96. Stitch Fix has a fifty-two week low of $4.66 and a fifty-two week high of $44.65.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Stitch Fix from $8.00 to $6.00 and set an “underweight” rating for the company in a report on Friday, June 10th. Morgan Stanley lowered their price target on shares of Stitch Fix from $9.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, June 10th. Evercore ISI decreased their price target on shares of Stitch Fix from $13.00 to $10.00 and set an “in-line” rating for the company in a research note on Friday, June 10th. KeyCorp began coverage on shares of Stitch Fix in a report on Thursday, July 21st. They issued a “sector weight” rating for the company. Finally, Piper Sandler restated an “underweight” rating on shares of Stitch Fix in a report on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.05.
Insider Buying and Selling
Institutional Trading of Stitch Fix
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its holdings in shares of Stitch Fix by 212.1% during the first quarter. Federated Hermes Inc. now owns 1,825,064 shares of the company’s stock worth $18,378,000 after purchasing an additional 1,240,320 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Stitch Fix by 155.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,027,859 shares of the company’s stock valued at $5,078,000 after acquiring an additional 624,973 shares during the period. Goldman Sachs Group Inc. increased its stake in Stitch Fix by 45.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,761,256 shares of the company’s stock worth $8,701,000 after buying an additional 550,852 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Stitch Fix by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 7,964,510 shares of the company’s stock valued at $80,203,000 after buying an additional 483,213 shares in the last quarter. Finally, State Street Corp boosted its stake in Stitch Fix by 22.2% during the 2nd quarter. State Street Corp now owns 2,376,306 shares of the company’s stock worth $11,739,000 after purchasing an additional 432,206 shares during the period. 73.41% of the stock is owned by hedge funds and other institutional investors.
About Stitch Fix
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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