Farfetch (NYSE:FTCH) Price Target Lowered to $11.00 at Societe Generale

Farfetch (NYSE:FTCHGet Rating) had its target price trimmed by Societe Generale from $12.00 to $11.00 in a research report sent to investors on Monday morning, The Fly reports.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered their price target on Farfetch from $16.00 to $15.00 and set an overweight rating for the company in a report on Friday. Citigroup assumed coverage on Farfetch in a report on Monday, September 26th. They issued a sell rating and a $6.00 price target for the company. Cowen boosted their price target on Farfetch from $9.00 to $11.00 and gave the company a market perform rating in a report on Tuesday, August 30th. Cowen boosted their price target on Farfetch from $9.00 to $11.00 and gave the company a market perform rating in a report on Tuesday, August 30th. Finally, Morgan Stanley lowered their price target on Farfetch from $26.00 to $24.00 and set an overweight rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Farfetch currently has an average rating of Moderate Buy and an average target price of $17.53.

Farfetch Trading Down 7.6 %

FTCH opened at $7.49 on Monday. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of -4.14 and a beta of 2.80. The stock’s 50 day moving average price is $8.52 and its 200-day moving average price is $8.56. Farfetch has a one year low of $6.52 and a one year high of $39.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.09 and a current ratio of 1.44.

Farfetch (NYSE:FTCHGet Rating) last released its earnings results on Thursday, August 25th. The company reported ($0.36) EPS for the quarter, meeting analysts’ consensus estimates of ($0.36). The firm had revenue of $579.35 million for the quarter, compared to analysts’ expectations of $566.53 million. Farfetch had a return on equity of 58.40% and a net margin of 26.67%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. On average, equities analysts forecast that Farfetch will post -1.16 EPS for the current year.

Institutional Trading of Farfetch

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Industrial Alliance Investment Management Inc. increased its position in shares of Farfetch by 16.0% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 1,416,230 shares of the company’s stock valued at $10,551,000 after acquiring an additional 195,490 shares during the period. River & Mercantile Asset Management LLP increased its position in shares of Farfetch by 58.9% in the 3rd quarter. River & Mercantile Asset Management LLP now owns 164,662 shares of the company’s stock valued at $1,225,000 after acquiring an additional 61,030 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Farfetch by 30.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 724,785 shares of the company’s stock valued at $5,399,000 after acquiring an additional 167,329 shares during the period. Clearstead Advisors LLC increased its position in shares of Farfetch by 24,900.0% in the 3rd quarter. Clearstead Advisors LLC now owns 7,500 shares of the company’s stock valued at $56,000 after acquiring an additional 7,470 shares during the period. Finally, Fred Alger Management LLC increased its position in shares of Farfetch by 1,345.1% in the 3rd quarter. Fred Alger Management LLC now owns 3,766,320 shares of the company’s stock valued at $28,059,000 after acquiring an additional 3,505,697 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.

About Farfetch

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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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