Farfetch Ltd (NYSE:FTCH – Get Free Report) reached a new 52-week low during trading on Friday after Wedbush lowered their price target on the stock from $5.00 to $3.50. Wedbush currently has a neutral rating on the stock. Farfetch traded as low as $2.71 and last traded at $2.91, with a volume of 25988898 shares traded. The stock had previously closed at $4.76.
A number of other research firms have also commented on FTCH. Credit Suisse Group dropped their price target on Farfetch from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday. BTIG Research decreased their price objective on Farfetch from $10.00 to $5.50 in a report on Friday. JPMorgan Chase & Co. downgraded Farfetch from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $15.00 to $6.00 in a report on Friday. Citigroup increased their price objective on Farfetch from $4.00 to $4.30 in a report on Thursday, May 25th. Finally, Oppenheimer decreased their price objective on Farfetch from $8.00 to $5.50 and set an “outperform” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Farfetch presently has a consensus rating of “Moderate Buy” and an average target price of $8.91.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dragoneer Investment Group LLC boosted its stake in shares of Farfetch by 32.2% during the 2nd quarter. Dragoneer Investment Group LLC now owns 33,981,712 shares of the company’s stock worth $205,250,000 after acquiring an additional 8,271,557 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Farfetch by 42.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 21,277,996 shares of the company’s stock valued at $152,350,000 after purchasing an additional 6,376,075 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Farfetch by 17.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,441,289 shares of the company’s stock valued at $49,388,000 after purchasing an additional 1,560,043 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its position in Farfetch by 8.4% during the 1st quarter. ArrowMark Colorado Holdings LLC now owns 9,126,054 shares of the company’s stock worth $44,809,000 after acquiring an additional 703,452 shares during the last quarter. Finally, Miller Value Partners LLC grew its position in Farfetch by 20.2% during the 4th quarter. Miller Value Partners LLC now owns 6,852,427 shares of the company’s stock worth $32,412,000 after acquiring an additional 1,153,076 shares during the last quarter. 65.79% of the stock is currently owned by institutional investors.
Farfetch Price Performance
The business has a 50-day simple moving average of $5.63 and a 200 day simple moving average of $5.15. The stock has a market cap of $1.17 billion, a P/E ratio of -1.26 and a beta of 2.96. The company has a current ratio of 1.75, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13.
Farfetch (NYSE:FTCH – Get Free Report) last released its quarterly earnings results on Thursday, May 18th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.12. The firm had revenue of $556.39 million for the quarter, compared to analyst estimates of $523.64 million. Farfetch had a negative return on equity of 66.50% and a negative net margin of 23.19%. On average, analysts forecast that Farfetch Ltd will post -1.31 earnings per share for the current year.
Farfetch Company Profile
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.