Farfetch (NYSE:FTCH) Price Target Cut to $6.00

Farfetch (NYSE:FTCHGet Rating) had its price objective decreased by Piper Sandler from $7.00 to $6.00 in a note issued to investors on Friday, The Fly reports. Piper Sandler’s target price would indicate a potential upside of 20.48% from the stock’s current price.

FTCH has been the topic of a number of other reports. Citigroup dropped their price objective on shares of Farfetch from $6.00 to $4.00 and set a “sell” rating on the stock in a research note on Friday, March 24th. Oppenheimer raised their price target on shares of Farfetch from $7.00 to $7.50 and gave the stock an “outperform” rating in a report on Monday, February 27th. JMP Securities assumed coverage on shares of Farfetch in a report on Friday, March 24th. They set a “market perform” rating for the company. Credit Suisse Group lifted their price objective on shares of Farfetch from $11.00 to $12.00 in a report on Friday. Finally, KeyCorp cut their price objective on shares of Farfetch from $13.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, January 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.46.

Farfetch Trading Up 14.7 %

Shares of Farfetch stock opened at $4.98 on Friday. The company has a market capitalization of $1.97 billion, a P/E ratio of -2.17 and a beta of 2.96. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.41 and a current ratio of 1.80. The company has a fifty day moving average of $4.37 and a 200 day moving average of $5.42. Farfetch has a fifty-two week low of $3.64 and a fifty-two week high of $12.89.

Farfetch (NYSE:FTCHGet Rating) last announced its earnings results on Thursday, February 23rd. The company reported ($0.42) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.42). Farfetch had a negative net margin of 23.19% and a negative return on equity of 63.59%. The firm had revenue of $629.17 million for the quarter, compared to analysts’ expectations of $626.97 million. On average, sell-side analysts anticipate that Farfetch will post -1.37 earnings per share for the current fiscal year.

Institutional Trading of Farfetch

A number of hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors boosted its holdings in Farfetch by 31.8% in the first quarter. Captrust Financial Advisors now owns 4,993 shares of the company’s stock worth $75,000 after purchasing an additional 1,204 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in Farfetch by 12.3% during the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 18,300 shares of the company’s stock worth $136,000 after buying an additional 2,000 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of Farfetch by 12.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 19,550 shares of the company’s stock worth $92,000 after purchasing an additional 2,198 shares in the last quarter. Guggenheim Capital LLC lifted its position in shares of Farfetch by 16.7% in the first quarter. Guggenheim Capital LLC now owns 17,414 shares of the company’s stock worth $263,000 after purchasing an additional 2,497 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in Farfetch by 86.6% in the third quarter. Signaturefd LLC now owns 5,825 shares of the company’s stock worth $43,000 after buying an additional 2,704 shares during the last quarter. Hedge funds and other institutional investors own 78.07% 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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