Farfetch (NYSE:FTCH) PT Raised to $12.00 at Credit Suisse Group

Farfetch (NYSE:FTCH – Get Rating) had its target price boosted by stock analysts at Credit Suisse Group from $11.00 to $12.00 in a research report issued to clients and investors on Friday, The Fly reports. Credit Suisse Group’s target price would indicate a potential upside of 140.96% from the company’s current price.

A number of other analysts also recently weighed in on FTCH. KeyCorp decreased their target price on shares of Farfetch from $13.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, January 30th. Oppenheimer increased their target price on Farfetch from $7.00 to $7.50 and gave the stock an “outperform” rating in a report on Monday, February 27th. JMP Securities started coverage on Farfetch in a report on Friday, March 24th. They issued a “market perform” rating on the stock. Finally, Citigroup cut their target price on Farfetch from $6.00 to $4.00 and set a “sell” rating on the stock in a report on Friday, March 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.46.

Farfetch Stock Up 14.7 %

FTCH stock opened at $4.98 on Friday. The stock 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 current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 0.99. Farfetch has a 12 month low of $3.64 and a 12 month high of $12.89. The firm has a 50-day moving average price of $4.37 and a 200-day moving average price of $5.42.

Farfetch (NYSE:FTCH – Get Rating) last released its quarterly earnings data 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 return on equity of 63.59% and a negative net margin of 23.19%. The company had revenue of $629.17 million during the quarter, compared to the consensus estimate of $626.97 million. As a group, equities research analysts anticipate that Farfetch will post -1.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Farfetch

Several hedge funds have recently made changes to their positions in the business. Eagle Bay Advisors LLC purchased a new stake in Farfetch in the second quarter worth $32,000. Captrust Financial Advisors grew its stake 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. Signaturefd LLC grew its stake 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 purchasing an additional 2,704 shares during the period. Clearstead Advisors LLC grew its stake in Farfetch by 24,900.0% in the third quarter. Clearstead Advisors LLC now owns 7,500 shares of the company’s stock worth $56,000 after purchasing an additional 7,470 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in Farfetch by 64.3% in the third quarter. Asset Management One Co. Ltd. now owns 8,389 shares of the company’s stock worth $62,000 after purchasing an additional 3,282 shares during the period. 78.07% of the stock is owned by hedge funds and other institutional investors.

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.